Darden Restaurants (DRI) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS
Darden Restaurants (NYSE:DRI) released its quarterly earnings results on Thursday. The restaurant operator reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.07, Bloomberg Earnings reports. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the firm posted $1.32 earnings per share. The company’s revenue was up 13.3% compared to the same quarter last year. Darden Restaurants updated its FY18 guidance to $4.75-4.80 EPS.
Darden Restaurants (DRI) opened at $85.94 on Friday. The company has a market capitalization of $11,526.94, a P/E ratio of 22.04, a PEG ratio of 1.77 and a beta of 0.22. Darden Restaurants has a fifty-two week low of $75.20 and a fifty-two week high of $100.11. The company has a current ratio of 0.34, a quick ratio of 0.20 and a debt-to-equity ratio of 0.47.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.93%. Darden Restaurants’s dividend payout ratio (DPR) is presently 64.62%.
In other news, SVP Douglas J. Milanes sold 4,300 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total transaction of $417,315.00. Following the completion of the transaction, the senior vice president now directly owns 7,513 shares of the company’s stock, valued at $729,136.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ricardo Cardenas sold 10,783 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total value of $1,047,784.11. Following the transaction, the chief financial officer now directly 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 ninety days. Corporate insiders own 0.63% of the company’s stock.
Large investors have recently bought and sold shares of the company. Advisor Partners LLC grew its holdings in shares of Darden Restaurants by 47.8% during the fourth quarter. Advisor Partners LLC now owns 8,291 shares of the restaurant operator’s stock valued at $821,000 after purchasing an additional 2,681 shares during the last quarter. Tredje AP fonden grew its holdings in shares of Darden Restaurants by 11.0% during the third quarter. Tredje AP fonden now owns 61,850 shares of the restaurant operator’s stock valued at $4,873,000 after purchasing an additional 6,110 shares during the last quarter. Trust Department MB Financial Bank N A bought a new position in shares of Darden Restaurants during the fourth quarter valued at approximately $720,000. Navellier & Associates Inc bought a new position in shares of Darden Restaurants during the fourth quarter valued at approximately $3,219,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Darden Restaurants by 4.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,061,980 shares of the restaurant operator’s stock valued at $83,663,000 after purchasing an additional 43,734 shares during the last quarter. 90.44% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: “Darden Restaurants (DRI) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://www.watchlistnews.com/darden-restaurants-dri-releases-quarterly-earnings-results-beats-estimates-by-0-07-eps/1960448.html.
Darden Restaurants Company Profile
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of June 27, 2017, it owned and operated approximately 1,700 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V's brands.
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.