Darden Restaurants (NYSE:DRI) updated its FY20 earnings guidance on Thursday. The company provided EPS guidance of $6.30-6.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.46. The company issued revenue guidance of $8961.5-9047 million, compared to the consensus revenue estimate of $9.09 billion.Darden Restaurants also updated its FY 2020 guidance to $6.30-6.45 EPS.

NYSE DRI opened at $121.23 on Friday. The company has a market capitalization of $14.59 billion, a PE ratio of 20.83, a PEG ratio of 1.81 and a beta of 0.30. Darden Restaurants has a 1-year low of $95.83 and a 1-year high of $125.33. The company has a current ratio of 0.61, a quick ratio of 0.33 and a debt-to-equity ratio of 0.39.

Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, June 20th. The restaurant operator reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.03. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. Darden Restaurants had a return on equity of 31.61% and a net margin of 8.38%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 earnings per share. On average, research analysts predict that Darden Restaurants will post 6.4 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Tuesday, July 9th. This is an increase from Darden Restaurants’s previous quarterly dividend of $0.75. Darden Restaurants’s dividend payout ratio (DPR) is 51.55%.

Several equities analysts have recently weighed in on DRI shares. Maxim Group restated a buy rating and issued a $128.00 target price on shares of Darden Restaurants in a research report on Tuesday, March 19th. Gordon Haskett upgraded Darden Restaurants from an underperform rating to a hold rating in a research report on Thursday, March 21st. Mizuho raised their target price on Darden Restaurants from $125.00 to $130.00 and gave the company a buy rating in a research report on Friday, March 22nd. BTIG Research raised their target price on Darden Restaurants to $134.00 and gave the company a buy rating in a research report on Friday, March 22nd. Finally, SunTrust Banks raised their target price on Darden Restaurants to $141.00 and gave the company a buy rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the stock. Darden Restaurants has a consensus rating of Buy and an average price target of $129.68.

In related news, insider Eugene I. Lee, Jr. sold 73,152 shares of Darden Restaurants stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $118.61, for a total transaction of $8,676,558.72. Following the transaction, the insider now owns 190,025 shares in the company, valued at $22,538,865.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John W. Madonna sold 330 shares of Darden Restaurants stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $118.76, for a total value of $39,190.80. Following the transaction, the senior vice president now owns 1,680 shares in the company, valued at approximately $199,516.80. The disclosure for this sale can be found here. Company insiders own 0.65% 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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