Stock Traders Buy Large Volume of Darden Restaurants Call Options (DRI)
Darden Restaurants (NYSE:DRI) was the target of some unusual options trading on Wednesday. Traders purchased 23,533 call options on the stock, Analyst RN reports. This represents an increase of approximately 553% compared to the average volume of 3,602 call options.
A number of analysts have recently weighed in on DRI shares. Analysts at Zacks reiterated a “neutral” rating on shares of Darden Restaurants in a research note to investors on Thursday, October 3rd. They now have a $49.00 price target on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of Darden Restaurants from $55.00 to $50.00 in a research note to investors on Tuesday, September 24th. They now have a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $50.37.
Darden Restaurants (NYSE:DRI) traded up 7.11% on Wednesday, hitting $49.57. The stock had a trading volume of 12,582,092 shares. Darden Restaurants has a 52-week low of $44.11 and a 52-week high of $55.90. The stock’s 50-day moving average is $47.11 and its 200-day moving average is $50.00. The company has a market cap of $6.472 billion and a price-to-earnings ratio of 16.44.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Friday, September 20th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that Darden Restaurants will post $2.90 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 4.44%. The ex-dividend date of this dividend is Tuesday, October 8th.
Darden Restaurants, Inc (NYSE:DRI) is a company owned and full-service restaurant company.
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