Jefferies Financial Group Weighs in on Darden Restaurants, Inc.’s Q1 2022 Earnings (NYSE:DRI)

Darden Restaurants, Inc. (NYSE:DRI) – Equities researchers at Jefferies Financial Group issued their Q1 2022 EPS estimates for Darden Restaurants in a research report issued to clients and investors on Thursday, June 25th. Jefferies Financial Group analyst A. Barish expects that the restaurant operator will earn $1.35 per share for the quarter. Jefferies Financial Group has a “Hold” rating and a $75.00 price target on the stock. Jefferies Financial Group also issued estimates for Darden Restaurants’ Q2 2022 earnings at $1.21 EPS, Q4 2022 earnings at $1.46 EPS and FY2022 earnings at $5.66 EPS.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada lowered their target price on shares of Darden Restaurants from $87.00 to $81.00 and set an “outperform” rating for the company in a report on Monday, June 22nd. BMO Capital Markets upped their price objective on shares of Darden Restaurants from $72.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, June 26th. Bank of America lifted their target price on Darden Restaurants from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Wedbush raised Darden Restaurants from a “neutral” rating to an “outperform” rating in a research report on Sunday, April 19th. Finally, Deutsche Bank cut their price target on Darden Restaurants from $82.00 to $77.00 and set a “hold” rating on the stock in a research report on Monday, March 16th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Darden Restaurants currently has a consensus rating of “Buy” and a consensus target price of $90.48.

Shares of Darden Restaurants stock opened at $75.77 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.41 and a debt-to-equity ratio of 2.24. Darden Restaurants has a 52 week low of $26.15 and a 52 week high of $128.41. The firm’s 50 day moving average is $75.89 and its two-hundred day moving average is $87.61. The firm has a market capitalization of $8.81 billion, a P/E ratio of -189.43, a P/E/G ratio of 2.96 and a beta of 1.32.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, June 25th. The restaurant operator reported ($1.24) EPS for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.40. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Darden Restaurants had a positive return on equity of 16.68% and a negative net margin of 0.67%. The business’s revenue for the quarter was down 43.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.76 EPS.

Several large investors have recently made changes to their positions in DRI. Efficient Wealth Management LLC acquired a new stake in shares of Darden Restaurants in the first quarter worth approximately $26,000. First Financial Corp IN boosted its holdings in shares of Darden Restaurants by 150.0% in the 1st quarter. First Financial Corp IN now owns 500 shares of the restaurant operator’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Darden Restaurants during the 1st quarter valued at $30,000. Allred Capital Management LLC increased its holdings in shares of Darden Restaurants by 120.1% during the 1st quarter. Allred Capital Management LLC now owns 724 shares of the restaurant operator’s stock worth $39,000 after buying an additional 395 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Darden Restaurants by 38.8% in the 4th quarter. Penserra Capital Management LLC now owns 840 shares of the restaurant operator’s stock worth $96,000 after buying an additional 235 shares during the period. 88.12% of the stock is owned by institutional investors and hedge funds.

In other news, COO David C. George bought 4,273 shares of the stock in a transaction on Thursday, April 23rd. The stock was purchased at an average cost of $58.50 per share, with a total value of $249,970.50. Following the purchase, the chief operating officer now owns 64,928 shares of the company’s stock, valued at $3,798,288. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eugene I. Lee, Jr. purchased 25,641 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was acquired at an average price of $58.50 per share, with a total value of $1,499,998.50. Following the completion of the acquisition, the chief executive officer now directly owns 177,264 shares in the company, valued at approximately $10,369,944. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 37,178 shares of company stock worth $2,174,913. Corporate insiders own 0.47% of the company’s stock.

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 and Estimates for Darden Restaurants (NYSE:DRI)

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