Q2 2017 EPS Estimates for Darden Restaurants Inc. (DRI) Decreased by Oppenheimer Holdings
Darden Restaurants Inc. (NYSE:DRI) – Equities researchers at Oppenheimer Holdings decreased their Q2 2017 earnings per share (EPS) estimates for Darden Restaurants in a report released on Tuesday. Oppenheimer Holdings analyst B. Bittner now anticipates that the brokerage will earn $0.62 per share for the quarter, down from their previous estimate of $0.63. Oppenheimer Holdings currently has a “Outperform” rating and a $70.00 target price on the stock. Oppenheimer Holdings also issued estimates for Darden Restaurants’ Q3 2017 earnings at $1.29 EPS.
Darden Restaurants (NYSE:DRI) last posted its earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.06. The firm had revenue of $1.71 billion for the quarter. Darden Restaurants had a return on equity of 24.97% and a net margin of 5.73%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share.
Several other research analysts also recently issued reports on the stock. Jefferies Group reiterated a “hold” rating and set a $64.00 price target (down from $66.00) on shares of Darden Restaurants in a report on Saturday, July 2nd. Zacks Investment Research downgraded shares of Darden Restaurants from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. BMO Capital Markets reiterated a “hold” rating and set a $64.00 price target on shares of Darden Restaurants in a report on Thursday, September 1st. Piper Jaffray Cos. reiterated an “overweight” rating and set a $76.00 price target on shares of Darden Restaurants in a report on Thursday, August 25th. Finally, BTIG Research reiterated a “buy” rating and set a $75.00 price target on shares of Darden Restaurants in a report on Friday, July 1st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. Darden Restaurants presently has an average rating of “Hold” and a consensus price target of $69.89.
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Darden Restaurants (NYSE:DRI) traded up 0.82% on Friday, reaching $61.45. The company’s stock had a trading volume of 745,503 shares. Darden Restaurants has a 12 month low of $53.38 and a 12 month high of $68.68. The company has a market cap of $7.68 billion, a P/E ratio of 19.84 and a beta of 0.41. The stock’s 50 day moving average price is $61.92 and its 200 day moving average price is $63.81.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.68%. Darden Restaurants’s payout ratio is currently 72.03%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CENTRAL TRUST Co boosted its position in Darden Restaurants by 16.5% in the second quarter. CENTRAL TRUST Co now owns 1,799 shares of the restaurant operator’s stock worth $114,000 after buying an additional 255 shares during the last quarter. Krilogy Financial LLC boosted its stake in shares of Darden Restaurants by 1.6% in the second quarter. Krilogy Financial LLC now owns 2,133 shares of the restaurant operator’s stock valued at $135,000 after buying an additional 33 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Darden Restaurants by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,369 shares of the restaurant operator’s stock valued at $150,000 after buying an additional 195 shares in the last quarter. M&R Capital Management Inc. acquired a new stake in shares of Darden Restaurants during the second quarter valued at about $158,000. Finally, Citizens Financial Group Inc RI boosted its stake in shares of Darden Restaurants by 320.0% in the first quarter. Citizens Financial Group Inc RI now owns 2,520 shares of the restaurant operator’s stock valued at $167,000 after buying an additional 1,920 shares in the last quarter. 94.57% of the stock is currently owned by institutional investors.
Darden Restaurants Company Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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