Darden Restaurants Downgraded by TheStreet to “Hold” (DRI)
Darden Restaurants (NYSE:DRI) traded down 0.04% during mid-day trading on Friday, hitting $46.87. The stock had a trading volume of 372,738 shares. 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 $49.50 and its 200-day moving average is $50.17. The company has a market cap of $6.201 billion and a price-to-earnings ratio of 21.78.
Darden Restaurants (NYSE:DRI) last issued its quarterly 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 $2.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders 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 4.69%. The ex-dividend date of this dividend is Tuesday, July 8th.
A number of other analysts have also recently weighed in on DRI. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Darden Restaurants in a research note on Thursday. They now have a $53.00 price target on the stock, down previously from $60.00. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. Darden Restaurants currently has a consensus rating of “Hold” and a consensus 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.