Darden Restaurants Now Covered by Buckingham Research (DRI)
Equities research analysts at Buckingham Research initiated coverage on shares of Darden Restaurants (NYSE:DRI) in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Darden Restaurants (NYSE:DRI) traded up 1.60% during mid-day trading on Friday, hitting $52.16. The stock had a trading volume of 998,884 shares. 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 $52.75 and a 200-day moving average of $50.24. The company has a market cap of $6.847 billion and a price-to-earnings ratio of 18.94. Darden Restaurants also was the target of unusually large options trading on Tuesday. Stock investors bought 45,645 call options on the stock. This represents an increase of approximately 1,332% compared to the average daily volume of 3,187 call options.
Darden Restaurants (NYSE:DRI) last released its earnings data on Thursday, December 19th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts expect that Darden Restaurants will post $2.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 3rd. Stockholders 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 4.29%. The ex-dividend date of this dividend is Wednesday, January 8th.
A number of other firms have also recently commented on DRI. Analysts at UBS AG initiated coverage on shares of Darden Restaurants in a research note to investors on Wednesday. They set a “neutral” rating on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Darden Restaurants in a research note to investors on Tuesday. They set an “underperform” rating on the stock. Finally, 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. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $51.22.
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 value of $1,116,687.00. Following the completion of the sale, the insider now directly owns 32,949 shares in the company, valued at approximately $1,760,465. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Darden Restaurants, Inc (NYSE:DRI) is a company owned and full-service restaurant company.
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