Darden Restaurants Stock Rating Reaffirmed by Credit Suisse (DRI)
Darden Restaurants (NYSE:DRI)‘s stock had its “underperform” rating restated by analysts at Credit Suisse in a research report issued to clients and investors on Tuesday. They currently have a $43.00 target price on the stock, down from their previous target price of $46.00. Credit Suisse’s target price indicates a potential downside of 9.97% from the stock’s previous close.
Darden Restaurants (NYSE:DRI) traded down 0.77% on Tuesday, hitting $47.3916. The stock had a trading volume of 284,678 shares. Darden Restaurants has a 1-year low of $44.78 and a 1-year high of $54.89. The stock’s 50-day moving average is $49.71 and its 200-day moving average is $50.27. The company has a market cap of $6.251 billion and a price-to-earnings ratio of 22.18.
Darden Restaurants (NYSE:DRI) last released its earnings data on Friday, June 20th. The company reported $0.65 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.94 by $0.29. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the company posted $1.01 earnings per share. Darden Restaurants’s revenue was up .9% compared to the same quarter last year. Analysts expect that Darden Restaurants will post $2.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Investors of record on Thursday, July 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 4.61%. The ex-dividend date of this dividend is Tuesday, July 8th.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. cut their price target on shares of Darden Restaurants from $52.00 to $47.00 in a research note on Tuesday. Separately, analysts at Susquehanna reiterated a “neutral” rating on shares of Darden Restaurants in a research note on Monday. They now have a $46.00 price target on the stock, down previously from $49.00. Finally, analysts at RBC Capital cut their price target on shares of Darden Restaurants from $55.00 to $50.00 in a research note on Monday. They now have a “sector perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $50.76.
Darden Restaurants, Inc is a full service restaurant company. As of May 26, 2013, the Company operated through subsidiaries 2,138 restaurants in the United States and Canada.
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