Brokerages expect Darden Restaurants, Inc. (NYSE:DRI) to announce $2.15 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Darden Restaurants’ earnings. The lowest sales estimate is $2.13 billion and the highest is $2.16 billion. Darden Restaurants reported sales of $1.88 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 14.4%. The business is scheduled to issue its next earnings results before the market opens on Thursday, March 22nd.
On average, analysts expect that Darden Restaurants will report full year sales of $2.15 billion for the current fiscal year, with estimates ranging from $7.17 billion to $8.13 billion. For the next fiscal year, analysts expect that the company will report sales of $8.44 billion per share, with estimates ranging from $8.10 billion to $8.59 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Darden Restaurants.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.85 billion.
In related news, SVP Douglas J. Milanes sold 4,300 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total transaction of $417,315.00. Following the completion of the sale, the senior vice president now directly owns 7,513 shares in the company, valued at $729,136.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ricardo Cardenas sold 10,783 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $97.17, for a total transaction of $1,047,784.11. Following the sale, the chief financial officer now owns 20,046 shares of the company’s stock, valued at $1,947,869.82. The disclosure for this sale can be found here. Insiders have sold 74,866 shares of company stock valued at $7,252,094 over the last 90 days. 0.63% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Cerebellum GP LLC acquired a new position in Darden Restaurants in the 4th quarter worth approximately $126,000. Grove Bank & Trust boosted its stake in Darden Restaurants by 155.6% in the 3rd quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after purchasing an additional 1,120 shares during the period. Cetera Advisor Networks LLC acquired a new position in Darden Restaurants in the 4th quarter worth approximately $200,000. Texas Yale Capital Corp. acquired a new position in Darden Restaurants in the 4th quarter worth approximately $205,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Darden Restaurants in the 3rd quarter worth approximately $208,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.
Shares of Darden Restaurants (NYSE DRI) opened at $94.81 on Monday. Darden Restaurants has a 12 month low of $73.81 and a 12 month high of $100.11. The company has a market cap of $11,712.24, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.84 and a beta of 0.22. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.47.
COPYRIGHT VIOLATION NOTICE: “$2.15 Billion in Sales Expected for Darden Restaurants, Inc. (DRI) This Quarter” was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://sportsperspectives.com/2018/03/12/2-15-billion-in-sales-expected-for-darden-restaurants-inc-dri-this-quarter.html.
About Darden Restaurants
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.