$870.04 Million in Sales Expected for Darling Ingredients Inc. (DAR) This Quarter
Equities analysts expect that Darling Ingredients Inc. (NYSE:DAR) will report sales of $870.04 million for the current quarter, according to Zacks. Three analysts have provided estimates for Darling Ingredients’ earnings. The highest sales estimate is $881.53 million and the lowest is $863.60 million. Darling Ingredients reported sales of $853.86 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.9%. The business is scheduled to report its next quarterly earnings results on Thursday, November 9th.
According to Zacks, analysts expect that Darling Ingredients will report full year sales of $870.04 million for the current fiscal year, with estimates ranging from $3.53 billion to $3.63 billion. For the next financial year, analysts anticipate that the business will report sales of $3.70 billion per share, with estimates ranging from $3.59 billion to $3.86 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Darling Ingredients.
Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.05. Darling Ingredients had a return on equity of 3.99% and a net margin of 2.39%. The business had revenue of $896.30 million for the quarter, compared to analysts’ expectations of $890.91 million. During the same period in the previous year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis.
Several research firms have recently commented on DAR. TheStreet upgraded shares of Darling Ingredients from a “c+” rating to a “b-” rating in a research report on Thursday, April 27th. Canaccord Genuity restated a “buy” rating and set a $18.00 price target on shares of Darling Ingredients in a research report on Monday, May 8th. Zacks Investment Research lowered shares of Darling Ingredients from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. BidaskClub upgraded shares of Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, BMO Capital Markets restated a “buy” rating and set a $19.00 price target on shares of Darling Ingredients in a research report on Tuesday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $18.17.
In other news, CFO Patrick C. Lynch purchased 18,820 shares of the stock in a transaction dated Friday, May 19th. The stock was acquired at an average price of $15.93 per share, for a total transaction of $299,802.60. Following the completion of the transaction, the chief financial officer now owns 128,958 shares of the company’s stock, valued at $2,054,300.94. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Patrick C. Lynch purchased 18,337 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were purchased at an average price of $16.39 per share, with a total value of $300,543.43. Following the transaction, the chief financial officer now directly owns 147,295 shares of the company’s stock, valued at approximately $2,414,165.05. The disclosure for this purchase can be found here. 1.95% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Darling Ingredients by 7,798.7% in the first quarter. BlackRock Inc. now owns 20,437,790 shares of the company’s stock worth $296,758,000 after buying an additional 20,179,041 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Darling Ingredients by 6.3% in the first quarter. Vanguard Group Inc. now owns 15,418,060 shares of the company’s stock worth $223,870,000 after buying an additional 910,712 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Darling Ingredients by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 13,906,079 shares of the company’s stock worth $218,881,000 after buying an additional 1,135,841 shares in the last quarter. FMR LLC raised its position in shares of Darling Ingredients by 36.4% in the second quarter. FMR LLC now owns 11,212,815 shares of the company’s stock worth $176,490,000 after buying an additional 2,990,750 shares in the last quarter. Finally, State Street Corp raised its position in shares of Darling Ingredients by 2.9% in the second quarter. State Street Corp now owns 4,258,577 shares of the company’s stock worth $67,028,000 after buying an additional 119,139 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.
Shares of Darling Ingredients (DAR) traded up 0.326% on Wednesday, reaching $16.925. 256,141 shares of the company’s stock traded hands. The company has a 50 day moving average of $16.32 and a 200-day moving average of $15.02. Darling Ingredients has a 52 week low of $11.51 and a 52 week high of $17.08. The stock has a market capitalization of $2.79 billion, a PE ratio of 33.251 and a beta of 1.61.
About Darling Ingredients
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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