Oppenheimer Downgrades Darden Restaurants to Market Perform (DRI)
Darden Restaurants (NYSE:DRI) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on DRI. Analysts at Jefferson Research downgraded shares of Darden Restaurants from a “buy” rating to a “hold” rating in a research note to investors on Friday. Separately, analysts at Wunderlich raised their price target on shares of Darden Restaurants from $50.00 to $54.00 in a research note to investors on Tuesday, December 24th. They now have a “hold” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Darden Restaurants in a research note to investors on Friday, December 20th. They now have a $54.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company. Darden Restaurants presently has a consensus rating of “Hold” and an average price target of $50.70.
In other Darden Restaurants news, CFO C Bradford Richmond sold 20,750 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $54.44, for a total value of $1,129,630.00. Following the completion of the sale, the chief financial officer now directly owns 33,836 shares in the company, valued at approximately $1,842,032. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Darden Restaurants (NYSE:DRI) traded down 1.94% during mid-day trading on Monday, hitting $51.98. 323,787 shares of the company’s stock traded hands. Darden Restaurants has a one year low of $44.11 and a one year high of $55.25. The stock’s 50-day moving average is $52.89 and its 200-day moving average is $50.24. The company has a market cap of $6.789 billion and a P/E ratio of 19.55.
Darden Restaurants (NYSE:DRI) last released its earnings data on Thursday, December 19th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.06. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Analysts expect that Darden Restaurants will post $2.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, February 3rd. Stockholders of record on Friday, January 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 4.15%. The ex-dividend date of this dividend is Wednesday, January 8th.
Darden Restaurants, Inc (NYSE:DRI) is a company owned and full-service restaurant company.
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