Darden Restaurants Now Covered by Credit Suisse (DRI)
Credit Suisse began coverage on shares of Darden Restaurants (NYSE:DRI) in a research note issued on Tuesday, Analyst Ratings Net reports. The firm set an “underperform” rating on the stock.
Darden Restaurants (NYSE:DRI) traded up 1.10% during mid-day trading on Tuesday, hitting $52.58. 1,478,293 shares of the company’s stock traded hands. Darden Restaurants has a 52 week low of $44.11 and a 52 week high of $55.25. The stock has a 50-day moving average of $52.85 and a 200-day moving average of $50.2. The company has a market cap of $6.867 billion and a price-to-earnings ratio of 19.18.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.15 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.26 earnings per share. Darden Restaurants’s revenue was up 4.6% compared to the same quarter last year. Analysts expect that Darden Restaurants will post $2.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of 0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Wednesday, January 8th.
In other Darden Restaurants news, Insider Salli Setta unloaded 20,900 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $53.43, for a total transaction of $1,116,687.00. Following the completion of the sale, the insider now directly owns 32,949 shares of the company’s stock, valued at approximately $1,760,465. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer downgraded shares of Darden Restaurants from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. Separately, 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. Finally, 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. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the stock. Darden Restaurants presently has a consensus rating of “Hold” and an average price target of $51.00.
Darden Restaurants, Inc (NYSE:DRI) is a company owned and full-service restaurant company.
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