Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Darden Restaurants (DRI) Share Price
Media coverage about Darden Restaurants (NYSE:DRI) has trended somewhat positive on Wednesday, according to Accern. The research firm ranks the sentiment of news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Darden Restaurants earned a news sentiment score of 0.16 on Accern’s scale. Accern also assigned news articles about the restaurant operator an impact score of 46.4832676666474 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
These are some of the news articles that may have effected Accern’s scoring:
- Darden (DRI) Strong on Sales Initiatives Despite Headwinds – Nasdaq (nasdaq.com)
- Darden Restaurants Inc (DRI) Seeing Increased Activity Over Past 7 Bars – Evergreen Caller (evergreencaller.com)
- Darden Restaurants, Inc. (DRI) Stock Rating Lowered by BidaskClub – ExpressNewsline (expressnewsline.com)
- Can Darden Restaurants, Inc. (NYSE:DRI) or JB Hunt Transport Services, Inc. (NASDAQ:JBHT) Climb The Ladder? – FLBC News (flbcnews.com)
Shares of Darden Restaurants (NYSE:DRI) traded up 1.09% during midday trading on Wednesday, hitting $84.39. 1,276,849 shares of the stock were exchanged. Darden Restaurants has a 12 month low of $60.16 and a 12 month high of $95.22. The stock has a market cap of $10.58 billion, a P/E ratio of 22.19 and a beta of 0.27. The firm has a 50 day moving average of $86.77 and a 200-day moving average of $83.46.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Darden Restaurants had a net margin of 6.68% and a return on equity of 26.18%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 earnings per share. Equities research analysts anticipate that Darden Restaurants will post $4.47 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This is a boost from Darden Restaurants’s previous quarterly dividend of $0.56. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.99%. Darden Restaurants’s dividend payout ratio is presently 66.14%.
Several research firms recently commented on DRI. Maxim Group reaffirmed a “hold” rating and issued a $90.00 price objective on shares of Darden Restaurants in a report on Wednesday, June 21st. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $93.00 price objective (up from $82.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Jefferies Group LLC raised their price objective on shares of Darden Restaurants from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $87.00 price objective (up from $81.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Finally, Royal Bank Of Canada raised their price objective on shares of Darden Restaurants from $86.00 to $96.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $84.78.
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In other news, insider Eugene I. Lee, Jr. sold 93,125 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $91.58, for a total value of $8,528,387.50. Following the transaction, the insider now directly owns 165,062 shares in the company, valued at $15,116,377.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.63% of the company’s stock.
Darden Restaurants Company Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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