Darden Restaurants, Inc. (DRI) Expected to Post Quarterly Sales of $1.85 Billion
Wall Street analysts expect Darden Restaurants, Inc. (NYSE:DRI) to report $1.85 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Darden Restaurants’ earnings, with estimates ranging from $1.84 billion to $1.87 billion. Darden Restaurants posted sales of $1.64 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.8%. The firm is scheduled to report its next quarterly earnings results on Tuesday, December 19th.
On average, analysts expect that Darden Restaurants will report full-year sales of $1.85 billion for the current fiscal year, with estimates ranging from $7.97 billion to $8.08 billion. For the next year, analysts expect that the company will report sales of $8.39 billion per share, with estimates ranging from $8.25 billion to $8.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Darden Restaurants.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the company earned $0.88 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis.
A number of research analysts have recently issued reports on the company. BidaskClub downgraded Darden Restaurants from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Darden Restaurants in a research report on Monday, July 24th. Robert W. Baird reaffirmed a “hold” rating and set a $94.00 price target on shares of Darden Restaurants in a research report on Tuesday, September 19th. Zacks Investment Research raised Darden Restaurants from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $100.00 price objective on shares of Darden Restaurants in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $87.59.
A number of hedge funds and other institutional investors have recently bought and sold shares of DRI. M&R Capital Management Inc. acquired a new stake in shares of Darden Restaurants in the 2nd quarter worth approximately $108,000. D.A. Davidson & CO. lifted its stake in Darden Restaurants by 1.7% during the second quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after purchasing an additional 21 shares during the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new stake in Darden Restaurants during the third quarter valued at approximately $115,000. Farmers & Merchants Investments Inc. lifted its position in shares of Darden Restaurants by 255.5% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock valued at $129,000 after acquiring an additional 1,022 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Darden Restaurants by 4.6% in the 2nd quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock valued at $143,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 90.14% of the company’s stock.
Darden Restaurants (NYSE:DRI) opened at $82.64 on Friday. The company has a market capitalization of $10,158.52, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.80 and a beta of 0.22. Darden Restaurants has a fifty-two week low of $69.00 and a fifty-two week high of $95.22. The company has a current ratio of 0.38, a quick ratio of 0.24 and a debt-to-equity ratio of 0.45.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Friday, October 6th. Darden Restaurants’s dividend payout ratio is presently 65.12%.
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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