Darden Restaurants, Inc. (NYSE:DRI) – Equities research analysts at Jefferies Financial Group issued their Q1 2022 earnings estimates for shares of Darden Restaurants in a research report issued to clients and investors on Thursday, June 25th. Jefferies Financial Group analyst A. Barish anticipates that the restaurant operator will post earnings of $1.35 per share for the quarter. Jefferies Financial Group has a “Hold” rating and a $75.00 price target on the stock. Jefferies Financial Group also issued estimates for Darden Restaurants’ Q2 2022 earnings at $1.21 EPS, Q4 2022 earnings at $1.46 EPS and FY2022 earnings at $5.66 EPS.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, June 25th. The restaurant operator reported ($1.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.64) by $0.40. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Darden Restaurants had a positive return on equity of 16.68% and a negative net margin of 0.67%. Darden Restaurants’s revenue was down 43.5% on a year-over-year basis. During the same quarter last year, the business posted $1.76 EPS.

Several other equities analysts have also recently weighed in on the company. Cfra lowered their target price on Darden Restaurants from $120.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Robert W. Baird lowered their target price on Darden Restaurants from $90.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday. Bank of America lifted their target price on Darden Restaurants from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday. KeyCorp lifted their target price on Darden Restaurants from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Raymond James lifted their target price on Darden Restaurants from $75.00 to $90.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Darden Restaurants has a consensus rating of “Buy” and a consensus target price of $90.48.

Shares of DRI opened at $76.63 on Monday. The business’s 50-day moving average price is $75.85 and its 200 day moving average price is $87.82. The stock has a market capitalization of $8.81 billion, a P/E ratio of -191.58, a P/E/G ratio of 2.96 and a beta of 1.32. Darden Restaurants has a 1-year low of $26.15 and a 1-year high of $128.41. The company has a current ratio of 0.41, a quick ratio of 0.27 and a debt-to-equity ratio of 2.24.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DRI. BTG Pactual Global Asset Management Ltd acquired a new position in shares of Darden Restaurants during the fourth quarter valued at $1,116,000. Bank of New York Mellon Corp lifted its stake in shares of Darden Restaurants by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,122,696 shares of the restaurant operator’s stock valued at $122,386,000 after acquiring an additional 73,085 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of Darden Restaurants during the fourth quarter valued at $4,772,000. Sowell Financial Services LLC lifted its stake in shares of Darden Restaurants by 2.7% during the first quarter. Sowell Financial Services LLC now owns 6,068 shares of the restaurant operator’s stock valued at $330,000 after acquiring an additional 157 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Darden Restaurants by 41.5% during the first quarter. Alliancebernstein L.P. now owns 332,944 shares of the restaurant operator’s stock valued at $18,132,000 after acquiring an additional 97,651 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

In other news, CEO Eugene I. Lee, Jr. acquired 25,641 shares of the stock in a transaction dated Thursday, April 23rd. The shares were acquired at an average cost of $58.50 per share, for a total transaction of $1,499,998.50. Following the completion of the transaction, the chief executive officer now owns 177,264 shares in the company, valued at approximately $10,369,944. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd Burrowes acquired 2,564 shares of the stock in a transaction dated Thursday, April 23rd. The shares were purchased at an average price of $58.50 per share, for a total transaction of $149,994.00. Following the completion of the transaction, the insider now owns 25,216 shares of the company’s stock, valued at approximately $1,475,136. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 37,178 shares of company stock valued at $2,174,913. Corporate insiders own 0.47% of the company’s stock.

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.

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

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