Darden Restaurants (NYSE:DRI) Releases Earnings Results

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Darden Restaurants (NYSE:DRI) posted its earnings results on Thursday. The restaurant operator reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.51, MarketWatch Earnings reports. Darden Restaurants had a negative net margin of 0.67% and a positive return on equity of 16.68%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the firm posted $1.38 earnings per share. The company’s revenue was down 28.6% on a year-over-year basis. Darden Restaurants updated its Q2 2021
Pre-Market guidance to 0.65-0.75 EPS and its Q2 guidance to $0.65-0.75 EPS.

DRI stock opened at $97.17 on Friday. The stock’s fifty day simple moving average is $86.51 and its two-hundred day simple moving average is $74.21. The company has a current ratio of 0.61, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Darden Restaurants has a 1-year low of $26.15 and a 1-year high of $124.01. The stock has a market cap of $12.62 billion, a P/E ratio of -242.93, a P/E/G ratio of 2.13 and a beta of 1.34.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be given a $0.30 dividend. The ex-dividend date is Thursday, October 8th. This represents a $1.20 annualized dividend and a yield of 1.23%.

DRI has been the topic of several analyst reports. Zacks Investment Research cut shares of Darden Restaurants from a “buy” rating to a “hold” rating and set a $95.00 price objective on the stock. in a research note on Thursday. BMO Capital Markets boosted their target price on shares of Darden Restaurants from $84.00 to $96.00 and gave the company a “market perform” rating in a report on Friday. UBS Group boosted their target price on shares of Darden Restaurants from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Morgan Stanley boosted their target price on shares of Darden Restaurants from $71.00 to $112.00 and gave the company an “equal weight” rating in a report on Friday. Finally, ValuEngine upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating in a report on Tuesday, August 11th. Fifteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Darden Restaurants presently has a consensus rating of “Buy” and an average target price of $99.48.

About Darden Restaurants

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.

Further Reading: What is meant by a buy rating?

Earnings History for Darden Restaurants (NYSE:DRI)

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