Oppenheimer Analysts Decrease Earnings Estimates for Darden Restaurants, Inc. (DRI)
Darden Restaurants, Inc. (NYSE:DRI) – Analysts at Oppenheimer dropped their Q4 2020 EPS estimates for Darden Restaurants in a research report issued on Thursday, May 30th. Oppenheimer analyst B. Bittner now expects that the restaurant operator will post earnings of $1.98 per share for the quarter, down from their previous forecast of $2.00.
A number of other research firms also recently commented on DRI. Wedbush boosted their price objective on shares of Darden Restaurants from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 23rd. Zacks Investment Research downgraded shares of Darden Restaurants from a “buy” rating to a “hold” rating in a report on Monday, May 13th. UBS Group initiated coverage on shares of Darden Restaurants in a report on Friday, April 26th. They issued a “buy” rating and a $133.00 price target on the stock. Citigroup upped their price target on shares of Darden Restaurants from $120.00 to $146.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Wells Fargo & Co upped their price target on shares of Darden Restaurants from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $130.21.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.05. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. Darden Restaurants had a net margin of 8.08% and a return on equity of 30.28%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.71 earnings per share.
In other news, SVP John W. Madonna sold 330 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $118.76, for a total value of $39,190.80. Following the completion of the transaction, the senior vice president now owns 1,680 shares of the company’s stock, valued at $199,516.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eugene I. Lee, Jr. sold 73,152 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $118.61, for a total transaction of $8,676,558.72. Following the completion of the transaction, the insider now directly owns 190,025 shares of the company’s stock, valued at approximately $22,538,865.25. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Large investors have recently bought and sold shares of the company. Sageworth Trust Co acquired a new position in Darden Restaurants during the first quarter worth approximately $25,000. NuWave Investment Management LLC increased its position in Darden Restaurants by 3,628.6% during the first quarter. NuWave Investment Management LLC now owns 261 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 254 shares during the last quarter. Fort L.P. acquired a new position in Darden Restaurants during the first quarter worth approximately $35,000. Private Capital Group LLC increased its position in Darden Restaurants by 356.5% during the fourth quarter. Private Capital Group LLC now owns 315 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 246 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Darden Restaurants during the first quarter worth approximately $40,000. 88.82% of the stock is owned by institutional investors and hedge funds.
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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