Darden Restaurants, Inc. (NYSE:DRI) – Equities research analysts at Oppenheimer upped their FY2022 earnings per share (EPS) estimates for Darden Restaurants in a note issued to investors on Friday, June 26th. Oppenheimer analyst B. Bittner now anticipates that the restaurant operator will post earnings per share of $5.68 for the year, up from their previous forecast of $5.22. Oppenheimer has a “Outperform” rating and a $90.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Guggenheim boosted their price objective on shares of Darden Restaurants from $75.00 to $88.00 and gave the stock an “average” rating in a research note on Wednesday, May 20th. UBS Group decreased their price objective on shares of Darden Restaurants from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. KeyCorp upped their target price on shares of Darden Restaurants from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday. Cfra decreased their target price on shares of Darden Restaurants from $120.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Finally, MKM Partners upgraded shares of Darden Restaurants from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Tuesday, May 19th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $90.48.

DRI opened at $76.63 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.41 and a debt-to-equity ratio of 2.24. Darden Restaurants has a 52-week low of $26.15 and a 52-week high of $128.41. The company has a 50 day moving average of $75.85 and a two-hundred day moving average of $87.82. The company has a market cap 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 (NYSE:DRI) last released its quarterly earnings data on Thursday, June 25th. The restaurant operator reported ($1.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.64) by $0.40. Darden Restaurants had a negative net margin of 0.67% and a positive return on equity of 16.68%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. Darden Restaurants’s revenue for the quarter was down 43.5% on a year-over-year basis.

Several hedge funds have recently added to or reduced their stakes in DRI. Melvin Capital Management LP acquired a new stake in shares of Darden Restaurants in the 1st quarter worth about $175,634,000. Capital International Investors acquired a new stake in shares of Darden Restaurants in the 4th quarter worth about $294,757,000. Capital World Investors increased its holdings in shares of Darden Restaurants by 29.1% in the 1st quarter. Capital World Investors now owns 6,550,761 shares of the restaurant operator’s stock worth $356,754,000 after acquiring an additional 1,474,817 shares during the period. Norges Bank acquired a new stake in shares of Darden Restaurants in the 4th quarter worth about $143,395,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Darden Restaurants by 39.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,346,998 shares of the restaurant operator’s stock worth $182,278,000 after acquiring an additional 942,118 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.

In other Darden Restaurants news, CEO Eugene I. Lee, Jr. bought 25,641 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were bought at an average cost of $58.50 per share, with a total value of $1,499,998.50. Following the completion of the acquisition, the chief executive officer now owns 177,264 shares of the company’s stock, valued at $10,369,944. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Shan Atkins bought 1,282 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were acquired at an average cost of $58.50 per share, for a total transaction of $74,997.00. Following the completion of the acquisition, the director now directly owns 3,114 shares of the company’s stock, valued at approximately $182,169. The disclosure for this purchase can be found here. Insiders have acquired 37,178 shares of company stock worth $2,174,913 over the last three months. 0.47% of the stock is owned by corporate insiders.

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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