Brokerages Expect Darling Ingredients Inc. (DAR) Will Post Quarterly Sales of $870.04 Million
Wall Street brokerages expect that Darling Ingredients Inc. (NYSE:DAR) will report sales of $870.04 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Darling Ingredients’ earnings, with the lowest sales estimate coming in at $863.60 million and the highest estimate coming in at $881.53 million. Darling Ingredients posted sales of $853.86 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.9%. The firm 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 year, with estimates ranging from $3.53 billion to $3.63 billion. For the next year, analysts forecast that the firm will report sales of $3.70 billion per share, with estimates ranging from $3.59 billion to $3.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side 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 net margin of 2.39% and a return on equity of 3.99%. The firm had revenue of $896.30 million during the quarter, compared to analyst estimates of $890.91 million. During the same period last year, the business earned $0.19 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year.
A number of equities research analysts recently commented on DAR shares. J P Morgan Chase & Co set a $19.00 price objective on Darling Ingredients and gave the company a “buy” rating in a report on Monday, August 14th. BidaskClub downgraded Darling Ingredients from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Darling Ingredients from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $20.00 price objective on shares of Darling Ingredients in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Darling Ingredients presently has an average rating of “Buy” and an average target price of $18.17.
Shares of Darling Ingredients (NYSE DAR) traded up 0.61% during mid-day trading on Friday, reaching $18.19. 210,598 shares of the company’s stock traded hands. Darling Ingredients has a 1-year low of $11.51 and a 1-year high of $18.27. The firm has a 50-day moving average price of $17.03 and a 200-day moving average price of $15.81. The company has a market capitalization of $3.00 billion, a P/E ratio of 35.74 and a beta of 1.60.
Several hedge funds have recently bought and sold shares of DAR. BlackRock Inc. boosted its position in shares of Darling Ingredients by 7,798.7% during 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 during the period. FMR LLC boosted its position in Darling Ingredients by 36.4% during the second quarter. FMR LLC now owns 11,212,815 shares of the company’s stock valued at $176,490,000 after purchasing an additional 2,990,750 shares during the last quarter. GMT Capital Corp acquired a new position in Darling Ingredients during the second quarter valued at approximately $18,967,000. Dimensional Fund Advisors LP boosted its position in Darling Ingredients by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 13,906,079 shares of the company’s stock valued at $218,881,000 after purchasing an additional 1,135,841 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Darling Ingredients during the first quarter valued at approximately $14,819,000. 95.37% of the stock is owned by institutional investors.
Darling Ingredients Company Profile
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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