Q1 2020 EPS Estimates for Darden Restaurants, Inc. (NYSE:DRI) Raised by Analyst

Darden Restaurants, Inc. (NYSE:DRI) – Research analysts at Oppenheimer increased their Q1 2020 earnings per share (EPS) estimates for Darden Restaurants in a note issued to investors on Thursday, June 20th. Oppenheimer analyst B. Bittner now anticipates that the restaurant operator will post earnings of $1.40 per share for the quarter, up from their previous forecast of $1.39. Oppenheimer also issued estimates for Darden Restaurants’ Q4 2020 earnings at $1.95 EPS, FY2020 earnings at $6.38 EPS and FY2021 earnings at $6.80 EPS.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, June 20th. The restaurant operator reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.03. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. Darden Restaurants had a net margin of 8.38% and a return on equity of 31.61%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.39 earnings per share.

A number of other equities analysts have also recently commented on the stock. Maxim Group reduced their price objective on shares of Darden Restaurants from $132.00 to $126.00 in a research report on Friday, June 21st. Wedbush dropped their price target on Darden Restaurants from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Zacks Investment Research downgraded Darden Restaurants from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research note on Wednesday, June 12th. Evercore ISI initiated coverage on Darden Restaurants in a research note on Tuesday, June 11th. They set an “outperform” rating and a $135.00 target price for the company. Finally, Wells Fargo & Co lowered their price objective on Darden Restaurants from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the stock. Darden Restaurants currently has an average rating of “Buy” and a consensus price target of $131.17.

Shares of DRI opened at $123.14 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.46 and a current ratio of 0.61. The stock’s fifty day moving average price is $119.88. Darden Restaurants has a 1-year low of $95.83 and a 1-year high of $125.33. The firm has a market capitalization of $15.00 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.88 and a beta of 0.30.

A number of institutional investors and hedge funds have recently modified their holdings of DRI. Vanguard Group Inc boosted its position in Darden Restaurants by 5.2% during the third quarter. Vanguard Group Inc now owns 13,687,194 shares of the restaurant operator’s stock worth $1,521,879,000 after acquiring an additional 673,563 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Darden Restaurants by 1.9% during the 4th quarter. Northern Trust Corp now owns 1,925,968 shares of the restaurant operator’s stock valued at $192,328,000 after acquiring an additional 35,556 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Darden Restaurants by 11.6% during the 4th quarter. Geode Capital Management LLC now owns 1,825,671 shares of the restaurant operator’s stock valued at $182,031,000 after acquiring an additional 189,466 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Darden Restaurants by 4.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,690,279 shares of the restaurant operator’s stock valued at $205,317,000 after acquiring an additional 65,775 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Darden Restaurants by 17.8% during the 1st quarter. American Century Companies Inc. now owns 1,589,442 shares of the restaurant operator’s stock worth $193,070,000 after buying an additional 240,234 shares during the period. Institutional investors and hedge funds own 88.80% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, July 9th. This is a boost from Darden Restaurants’s previous quarterly dividend of $0.75. Darden Restaurants’s dividend payout ratio is 51.55%.

Darden Restaurants Company Profile

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.

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

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