Darden Restaurants Receives “Buy” Rating from Citigroup Inc. (DRI)
Darden Restaurants (NYSE:DRI)‘s stock had its “buy” rating reaffirmed by equities researchers at Citigroup Inc. in a research report issued on Thursday. They currently have a $53.00 target price on the stock, down from their previous target price of $60.00. Citigroup Inc.’s price target suggests a potential upside of 13.81% from the company’s current price.
Darden Restaurants (NYSE:DRI) traded down 0.13% on Thursday, hitting $46.51. 476,321 shares of the company’s stock traded hands. Darden Restaurants has a 52-week low of $44.78 and a 52-week high of $54.89. The stock’s 50-day moving average is $49.57 and its 200-day moving average is $50.19. The company has a market cap of $6.153 billion and a price-to-earnings ratio of 21.63.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Friday, June 20th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that Darden Restaurants will post $2.24 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 4.72%. The ex-dividend date of this dividend is Tuesday, July 8th.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Darden Restaurants in a research note on Tuesday. They now have a $50.00 price target on the stock. Separately, analysts at Credit Suisse reiterated an “underperform” rating on shares of Darden Restaurants in a research note on Tuesday. They now have a $43.00 price target on the stock, down previously from $46.00. Finally, 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. They now have a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.82.
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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