Darden Restaurants, Inc. (DRI) Issues FY15 Earnings Guidance
Darden Restaurants, Inc. (NYSE:DRI) issued an update on its FY15 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.22-2.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.23, StockRatingsNetwork reports. Darden Restaurants also updated its Q1 guidance to $0.31-0.33 EPS.
A number of research firms have recently commented on DRI. Analysts at Bank of America downgraded shares of Darden Restaurants to an underperform rating in a research note on Thursday, August 28th. On a related note, analysts at Goldman Sachs initiated coverage on shares of Darden Restaurants in a research note on Monday, August 11th. They set a $500.00 price target on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Darden Restaurants from $49.00 to $44.00 in a research note on Tuesday, July 29th. They now have a hold rating on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $76.71.
Darden Restaurants, Inc. (NYSE:DRI) opened at 47.32 on Tuesday. Darden Restaurants, Inc. has a one year low of $43.56 and a one year high of $54.89. The stock’s 50-day moving average is $46.19 and its 200-day moving average is $48.53. The company has a market cap of $6.261 billion and a price-to-earnings ratio of 21.90. Darden Restaurants also saw a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 15,232,792 shares, a growth of 27.8% from the July 31st total of 11,916,846 shares. Based on an average daily trading volume, of 1,862,569 shares, the short-interest ratio is presently 8.2 days. Currently, 11.6% of the company’s stock are sold short.
Darden Restaurants (NYSE:DRI) last announced its 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. On average, analysts predict that Darden Restaurants, Inc. will post $2.22 earnings per share for the current fiscal year.
Darden Restaurants, Inc is full service restaurant company. The Company owns and operates more than 1,500 restaurants.
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