$2.21 Earnings Per Share Expected for Darden Restaurants, Inc. (NYSE:DRI) This Quarter

Brokerages expect Darden Restaurants, Inc. (NYSE:DRIGet Rating) to post earnings of $2.21 per share for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Darden Restaurants’ earnings. The lowest EPS estimate is $2.13 and the highest is $2.27. Darden Restaurants reported earnings per share of $2.03 during the same quarter last year, which suggests a positive year-over-year growth rate of 8.9%. The firm is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Darden Restaurants will report full-year earnings of $7.38 per share for the current year, with EPS estimates ranging from $7.30 to $7.44. For the next year, analysts expect that the business will report earnings of $8.34 per share, with EPS estimates ranging from $8.00 to $8.92. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Darden Restaurants.

Darden Restaurants (NYSE:DRIGet Rating) last announced its quarterly earnings results on Thursday, March 24th. The restaurant operator reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.17). The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.50 billion. Darden Restaurants had a net margin of 11.17% and a return on equity of 36.26%. The business’s revenue was up 41.3% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS.

DRI has been the subject of several analyst reports. MKM Partners reduced their price objective on Darden Restaurants from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, December 20th. Deutsche Bank Aktiengesellschaft decreased their price target on Darden Restaurants from $154.00 to $152.00 in a research note on Friday, March 25th. Wedbush cut their price objective on shares of Darden Restaurants from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, March 25th. Barclays reduced their price objective on shares of Darden Restaurants from $173.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, March 25th. Finally, Credit Suisse Group lowered their target price on shares of Darden Restaurants from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, March 25th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $162.05.

In related news, Director Juliana L. Chugg purchased 1,925 shares of the company’s stock in a transaction that occurred on Monday, March 28th. The shares were purchased at an average price of $129.01 per share, with a total value of $248,344.25. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.95% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. TCW Group Inc. grew its position in Darden Restaurants by 5.1% during the 1st quarter. TCW Group Inc. now owns 398,472 shares of the restaurant operator’s stock worth $52,976,000 after purchasing an additional 19,241 shares in the last quarter. Beech Hill Advisors Inc. boosted its position in shares of Darden Restaurants by 4.1% in the first quarter. Beech Hill Advisors Inc. now owns 20,818 shares of the restaurant operator’s stock worth $2,768,000 after buying an additional 812 shares during the period. Rockland Trust Co. acquired a new stake in shares of Darden Restaurants in the first quarter worth $230,000. Peterson Wealth Services raised its position in Darden Restaurants by 119.3% during the first quarter. Peterson Wealth Services now owns 3,448 shares of the restaurant operator’s stock valued at $458,000 after buying an additional 1,876 shares during the period. Finally, NorthCrest Asset Manangement LLC lifted its stake in Darden Restaurants by 3.1% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 4,040 shares of the restaurant operator’s stock worth $537,000 after acquiring an additional 120 shares in the last quarter. 90.18% of the stock is currently owned by institutional investors and hedge funds.

NYSE DRI traded up $3.28 on Thursday, hitting $135.92. The stock had a trading volume of 25,073 shares, compared to its average volume of 1,347,787. The company’s 50-day moving average is $134.33 and its two-hundred day moving average is $141.83. Darden Restaurants has a one year low of $116.04 and a one year high of $164.28. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 1.78 and a beta of 1.41. The company has a quick ratio of 0.57, a current ratio of 0.70 and a debt-to-equity ratio of 0.40.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Stockholders of record on Friday, April 8th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Thursday, April 7th. Darden Restaurants’s dividend payout ratio is presently 55.42%.

Darden Restaurants Company Profile (Get Rating)

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 30, 2021, it owned and operated 1,834 restaurants, which included 875 under the Olive Garden, 533 under the LongHorn Steakhouse, 170 under the Cheddar's Scratch Kitchen, 81 under the Yard House, 63 under The Capital Grille, 44 under the Seasons 52, 42 under the Bahama Breeze, and 26 under the Eddie V's Prime Seafood brands.

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Earnings History and Estimates for Darden Restaurants (NYSE:DRI)

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