Darden Restaurants (NYSE:DRI) is scheduled to announce its earnings results before the market opens on Thursday, June 20th. Analysts expect the company to announce earnings of $1.72 per share for the quarter. Darden Restaurants has set its FY 2019 guidance at $5.76-5.80 EPS and its FY19 guidance at $5.76-5.80 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.05. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. Darden Restaurants had a return on equity of 30.28% and a net margin of 8.08%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.71 EPS. On average, analysts expect Darden Restaurants to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
DRI stock opened at $117.81 on Thursday. The firm has a market cap of $14.92 billion, a PE ratio of 24.49, a PEG ratio of 1.84 and a beta of 0.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.48 and a quick ratio of 0.33. Darden Restaurants has a 52 week low of $91.34 and a 52 week high of $125.33.
In related news, insider Eugene I. Lee, Jr. sold 73,152 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $118.61, for a total transaction of $8,676,558.72. Following the completion of the sale, the insider now directly owns 190,025 shares of the company’s stock, valued at approximately $22,538,865.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John W. Madonna sold 330 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $118.76, for a total transaction of $39,190.80. Following the sale, the senior vice president now directly owns 1,680 shares of the company’s stock, valued at $199,516.80. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on DRI. UBS Group began coverage on Darden Restaurants in a report on Friday, April 26th. They set a “buy” rating and a $133.00 price objective for the company. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a report on Thursday, May 9th. Wedbush upped their price objective on Darden Restaurants from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 23rd. Loop Capital upped their price objective on Darden Restaurants to $140.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, BTIG Research upped their price objective on Darden Restaurants to $134.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $129.96.
About Darden Restaurants
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.
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