Darden Restaurants Rating Lowered to Equal Weight at Stephens (DRI)
Darden Restaurants (NYSE:DRI) was downgraded by investment analysts at Stephens from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on DRI. Analysts at Janney Montgomery Scott cut their price target on shares of Darden Restaurants (NYSE:DRI) from $57.00 to $54.00 in a research note to investors on Sunday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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.
Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the stock. Darden Restaurants presently has a consensus rating of “Hold” and a consensus target price of $50.79.
Shares of Darden Restaurants (NYSE:DRI) opened at 45.78 on Monday. Darden Restaurants has a 52 week low of $44.11 and a 52 week 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 $5.961 billion and a price-to-earnings ratio of 16.26.
Darden Restaurants (NYSE:DRI) last released its earnings data on Friday, September 20th. The company reported $0.53 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.85 earnings per share. Darden Restaurants’s revenue was up 6.1% compared to the same quarter last year. Analysts expect that Darden Restaurants will post $2.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.81%.
Darden Restaurants, Inc (NYSE:DRI) is a company owned and full-service restaurant company.
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