Wedbush Research Analysts Raise Earnings Estimates for Darden Restaurants, Inc. (NYSE:DRI)

Darden Restaurants, Inc. (NYSE:DRI) – Investment analysts at Wedbush increased their Q4 2021 earnings per share estimates for Darden Restaurants in a research report issued to clients and investors on Thursday, June 25th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will earn $1.23 per share for the quarter, up from their prior forecast of $1.22. Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for Darden Restaurants’ Q3 2022 earnings at $1.95 EPS.

Several other research analysts also recently commented on the company. Cfra reduced their price objective on Darden Restaurants from $120.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. BMO Capital Markets raised their price objective on Darden Restaurants from $72.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, June 26th. Jefferies Financial Group restated a “hold” rating and set a $75.00 price objective on shares of Darden Restaurants in a report on Friday, June 26th. JPMorgan Chase & Co. raised their price objective on Darden Restaurants from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Finally, Royal Bank of Canada dropped their target price on Darden Restaurants from $87.00 to $81.00 and set an “outperform” rating on the stock in a research report on Monday, June 22nd. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $90.48.

DRI opened at $75.77 on Monday. The stock’s fifty day moving average is $75.89 and its two-hundred day moving average is $87.61. The company has a market capitalization of $8.81 billion, a P/E ratio of -189.43, a PEG ratio of 2.96 and a beta of 1.32. Darden Restaurants has a 52 week low of $26.15 and a 52 week high of $128.41. 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 (NYSE:DRI) last issued its quarterly earnings results on Thursday, June 25th. The restaurant operator reported ($1.24) earnings per share for the quarter, topping the consensus estimate of ($1.64) by $0.40. The firm 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 company’s revenue for the quarter was down 43.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 earnings per share.

In other news, COO David C. George purchased 4,273 shares of the stock in a transaction on Thursday, April 23rd. The stock was bought at an average price of $58.50 per share, with a total value of $249,970.50. Following the transaction, the chief operating officer now owns 64,928 shares in the company, valued at approximately $3,798,288. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd Burrowes purchased 2,564 shares of the stock in a transaction on Thursday, April 23rd. The shares were purchased at an average cost of $58.50 per share, with a total value of $149,994.00. Following the transaction, the insider now owns 25,216 shares in the company, valued at approximately $1,475,136. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 37,178 shares of company stock valued at $2,174,913. 0.47% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Greenleaf Trust raised its stake in shares of Darden Restaurants by 5.1% during the 4th quarter. Greenleaf Trust now owns 1,987 shares of the restaurant operator’s stock valued at $217,000 after buying an additional 97 shares during the last quarter. Utah Retirement Systems raised its stake in shares of Darden Restaurants by 0.4% during the 4th quarter. Utah Retirement Systems now owns 23,497 shares of the restaurant operator’s stock valued at $2,562,000 after buying an additional 100 shares during the last quarter. Vident Investment Advisory LLC raised its stake in shares of Darden Restaurants by 2.9% during the 4th quarter. Vident Investment Advisory LLC now owns 4,258 shares of the restaurant operator’s stock valued at $464,000 after buying an additional 120 shares during the last quarter. Wesbanco Bank Inc. raised its stake in shares of Darden Restaurants by 4.1% during the 4th quarter. Wesbanco Bank Inc. now owns 3,691 shares of the restaurant operator’s stock valued at $402,000 after buying an additional 145 shares during the last quarter. Finally, Sowell Financial Services LLC raised its stake in shares of Darden Restaurants by 2.7% during the 1st quarter. Sowell Financial Services LLC now owns 6,068 shares of the restaurant operator’s stock valued at $330,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 88.12% 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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