Darden Restaurants Price Target Cut to $54.00 by Analysts at Janney Montgomery Scott (DRI)
Research analysts at Janney Montgomery Scott cut their price objective on shares of Darden Restaurants (NYSE:DRI) from $57.00 to $54.00 in a report released on Sunday, ARN reports. The firm currently has a “buy” rating on the stock. Janney Montgomery Scott’s target price indicates a potential upside of 17.96% from the stock’s previous close.
Shares of Darden Restaurants (NYSE:DRI) opened at 45.78 on Friday. Darden Restaurants has a one year low of $44.11 and a one year high of $57.07. The stock’s 50-day moving average is $48.02 and its 200-day moving average is $50.14. The company has a market cap of $5.965 billion and a price-to-earnings ratio of 14.60.
Darden Restaurants (NYSE:DRI) last released its earnings data on Friday, September 20th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.70 by $0.17. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts predict that Darden Restaurants will post $2.94 earnings per share for the current fiscal year.
A number of other firms have also recently commented on DRI. Analysts at Miller Tabak cut their price target on shares of Darden Restaurants (NYSE:DRI) from $57.00 to $55.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Susquehanna cut their price target on shares of Darden Restaurants (NYSE:DRI) from $45.00 to $44.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Darden Restaurants (NYSE:DRI) from $53.00 to $49.00 in a research note to investors on Monday, September 16th. They now have a “hold” rating on the stock.
Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $50.89.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.81%.
Darden Restaurants, Inc (NYSE:DRI) is a company owned and full-service restaurant company.
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