Darden Restaurants, Inc. (DRI) Releases Q1 Earnings Guidance
Darden Restaurants, Inc. (NYSE:DRI) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.31-0.33 for the period, compared to the Thomson Reuters consensus estimate of $0.30, Stock Ratings News reports. Darden Restaurants also updated its FY15 guidance to $2.22-2.30 EPS.
Shares of Darden Restaurants, Inc. (NYSE:DRI) opened at 47.32 on Tuesday. Darden Restaurants, Inc. has a 52 week low of $43.56 and a 52 week 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 was the target of a large growth in short interest in 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 shares of the company are short sold.
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, Inc. will post $2.22 earnings per share for the current fiscal year.
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 research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $76.71.
Darden Restaurants, Inc is full service restaurant company. The Company owns and operates more than 1,500 restaurants.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.