Darden Restaurants (NYSE:DRI) Releases Earnings Results, Beats Expectations By $0.05 EPS

Darden Restaurants (NYSE:DRI) posted its quarterly earnings data on Thursday. The restaurant operator reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.05, Bloomberg Earnings reports. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.06 billion. Darden Restaurants had a return on equity of 32.25% and a net margin of 7.23%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. Darden Restaurants updated its FY 2020
Pre-Market guidance to 6.30-6.45 EPS and its FY20 guidance to $6.30-6.45 EPS.

Shares of NYSE DRI opened at $110.24 on Friday. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.34 and a quick ratio of 0.30. Darden Restaurants has a one year low of $95.83 and a one year high of $128.41. The business’s 50-day moving average price is $115.17 and its two-hundred day moving average price is $118.58. The company has a market capitalization of $13.37 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.88 and a beta of 0.34.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, January 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.19%. Darden Restaurants’s payout ratio is 60.48%.

In related news, Director Nana Mensah sold 1,103 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $112.00, for a total value of $123,536.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas J. Milanes sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $119.05, for a total value of $190,480.00. Following the completion of the sale, the senior vice president now directly owns 6,793 shares of the company’s stock, valued at approximately $808,706.65. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Several brokerages have recently issued reports on DRI. Maxim Group set a $126.00 price objective on shares of Darden Restaurants and gave the stock a “hold” rating in a research note on Friday, September 13th. Wells Fargo & Co reduced their price objective on shares of Darden Restaurants from $116.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday. Barclays decreased their target price on shares of Darden Restaurants from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Citigroup decreased their target price on shares of Darden Restaurants from $144.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, SunTrust Banks dropped their target price on shares of Darden Restaurants from $141.00 to $139.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. Darden Restaurants currently has an average rating of “Buy” and a consensus target price of $128.24.

Darden Restaurants Company Profile

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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Earnings History for Darden Restaurants (NYSE:DRI)

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