Darden Restaurants Price Target Cut to $50.00 (DRI)
Research analysts at Raymond James reduced their price target on shares of Darden Restaurants (NYSE:DRI) from $55.00 to $50.00 in a report released on Monday. Raymond James’ price objective points to a potential upside of 12.69% from the company’s current price.
A number of other analysts have also recently weighed in on DRI. Analysts at TheStreet downgraded shares of Darden Restaurants to a “hold” rating in a research note on Friday, June 27th. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Darden Restaurants in a research note on Thursday, June 26th. They now have a $53.00 price target on the stock, down previously from $60.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Darden Restaurants in a research note on Tuesday, June 24th. They now have a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. Darden Restaurants has an average rating of “Hold” and a consensus target price of $50.53.
Darden Restaurants (NYSE:DRI) traded down 0.16% during mid-day trading on Monday, hitting $44.37. 1,639,316 shares of the company’s stock traded hands. Darden Restaurants has a 52 week low of $44.20 and a 52 week high of $54.89. The stock has a 50-day moving average of $48.39 and a 200-day moving average of $49.7. The company has a market cap of $5.870 billion and a P/E ratio of 20.64.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Friday, June 20th. The company reported $0.65 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts expect that Darden Restaurants will post $2.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.96%. The ex-dividend date is Tuesday, July 8th.
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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