Darden Restaurants (NYSE:DRI) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, September 19th. Analysts expect Darden Restaurants to post earnings of $1.36 per share for the quarter. Darden Restaurants has set its FY 2020 guidance at $6.30-6.45 EPS and its FY20 guidance at $6.30-6.45 EPS.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, June 20th. The restaurant operator reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.03. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. Darden Restaurants had a net margin of 8.38% and a return on equity of 31.61%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. On average, analysts expect Darden Restaurants to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.
DRI opened at $127.20 on Thursday. The stock has a market cap of $15.74 billion, a P/E ratio of 21.86, a P/E/G ratio of 1.98 and a beta of 0.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.61 and a quick ratio of 0.46. The stock’s 50 day simple moving average is $121.62 and its 200 day simple moving average is $119.14. Darden Restaurants has a 1-year low of $95.83 and a 1-year high of $127.99.
In other Darden Restaurants news, COO David C. George sold 69,779 shares of Darden Restaurants stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $123.25, for a total value of $8,600,261.75. Following the completion of the sale, the chief operating officer now directly owns 109,344 shares of the company’s stock, valued at approximately $13,476,648. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John W. Madonna sold 1,000 shares of Darden Restaurants stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $124.12, for a total transaction of $124,120.00. Following the completion of the sale, the senior vice president now directly owns 8,726 shares of the company’s stock, valued at $1,083,071.12. The disclosure for this sale can be found here. In the last three months, insiders sold 96,907 shares of company stock valued at $11,975,585. Company insiders own 0.47% of the company’s stock.
Several equities analysts recently issued reports on DRI shares. Evercore ISI began coverage on Darden Restaurants in a report on Tuesday, June 11th. They set an “outperform” rating and a $135.00 price objective for the company. Wedbush reiterated a “hold” rating and set a $125.00 target price on shares of Darden Restaurants in a research report on Thursday, August 29th. Citigroup lowered their target price on Darden Restaurants from $146.00 to $144.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Wells Fargo & Co dropped their price target on Darden Restaurants from $120.00 to $117.00 and set a “market perform” rating for the company in a research report on Tuesday, June 11th. Finally, KeyCorp initiated coverage on Darden Restaurants in a research note on Tuesday, July 23rd. They set an “overweight” rating and a $140.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $130.82.
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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