Darden Restaurants (NYSE:DRI) Updates FY 2020 Earnings Guidance
Darden Restaurants (NYSE:DRI) issued an update on its FY 2020 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.30-6.45 for the period, compared to the Thomson Reuters consensus estimate of $6.40. The company issued revenue guidance of $8.961-9.047 billion, compared to the consensus revenue estimate of $9.05 billion.Darden Restaurants also updated its FY20 guidance to $6.30-6.45 EPS.
Shares of Darden Restaurants stock opened at $119.80 on Friday. Darden Restaurants has a one year low of $95.83 and a one year high of $128.41. 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 has a market cap of $15.65 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.97 and a beta of 0.34. The stock has a 50 day moving average price of $121.72 and a 200-day moving average price of $119.69.
Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, September 19th. The restaurant operator reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.02. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. Darden Restaurants had a return on equity of 31.61% and a net margin of 8.38%. Darden Restaurants’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 EPS. Sell-side analysts predict that Darden Restaurants will post 6.38 earnings per share for the current fiscal year.
A number of analysts have recently commented on the company. Citigroup lowered their target price on Darden Restaurants from $146.00 to $144.00 and set a buy rating on the stock in a research note on Friday, June 28th. Stephens cut Darden Restaurants from an overweight rating to an equal weight rating and set a $121.75 target price for the company. in a report on Friday, June 28th. SunTrust Banks dropped their price target on Darden Restaurants from $141.00 to $139.00 and set a buy rating for the company in a research report on Friday. Zacks Investment Research lowered Darden Restaurants from a buy rating to a hold rating and set a $125.00 price objective for the company. in a research report on Wednesday, June 12th. Finally, Maxim Group set a $126.00 price objective on Darden Restaurants and gave the stock a hold rating in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $126.07.
In other news, COO David C. George sold 69,779 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $123.25, for a total transaction of $8,600,261.75. Following the completion of the transaction, the chief operating officer now directly owns 109,344 shares in the company, valued at $13,476,648. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John W. Madonna sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $124.12, for a total value of $124,120.00. Following the transaction, the senior vice president now owns 8,726 shares of the company’s stock, valued at $1,083,071.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,907 shares of company stock valued at $11,975,585. Company insiders own 0.47% of the company’s stock.
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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