Darden Restaurants, Inc. (NYSE:DRI) – Investment analysts at KeyCorp lowered their Q2 2021 EPS estimates for Darden Restaurants in a research note issued on Thursday, June 25th. KeyCorp analyst E. Gonzalez now forecasts that the restaurant operator will earn $0.41 per share for the quarter, down from their previous forecast of $0.44. KeyCorp has a “Overweight” rating and a $87.00 price target on the stock.

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

DRI has been the topic of several other research reports. Cfra decreased 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. Oppenheimer increased their target price on Darden Restaurants from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Royal Bank of Canada decreased their target price on Darden Restaurants from $87.00 to $81.00 and set an “outperform” rating on the stock in a research note on Monday, June 22nd. Jefferies Financial Group reissued a “hold” rating and set a $75.00 target price on shares of Darden Restaurants in a research note on Friday. Finally, Loop Capital increased their price target on Darden Restaurants from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $90.48.

DRI opened at $76.63 on Monday. The stock’s 50-day moving average price is $75.85 and its 200 day moving average price is $87.82. Darden Restaurants has a 12-month low of $26.15 and a 12-month 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. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of -191.58, a PEG ratio of 2.96 and a beta of 1.32.

A number of large investors have recently added to or reduced their stakes in the stock. Capital World Investors grew its stake in Darden Restaurants by 29.1% during the 1st quarter. Capital World Investors now owns 6,550,761 shares of the restaurant operator’s stock worth $356,754,000 after buying an additional 1,474,817 shares during the last quarter. State Street Corp grew its stake in Darden Restaurants by 6.7% during the 1st quarter. State Street Corp now owns 6,156,113 shares of the restaurant operator’s stock worth $335,262,000 after buying an additional 385,441 shares during the last quarter. Victory Capital Management Inc. grew its stake in Darden Restaurants by 39.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,346,998 shares of the restaurant operator’s stock worth $182,278,000 after buying an additional 942,118 shares during the last quarter. Capital International Investors grew its stake in Darden Restaurants by 23.2% during the 1st quarter. Capital International Investors now owns 3,332,094 shares of the restaurant operator’s stock worth $181,466,000 after buying an additional 628,147 shares during the last quarter. Finally, Melvin Capital Management LP purchased a new position in shares of Darden Restaurants in the 1st quarter valued at approximately $175,634,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

In other news, CEO Eugene I. Lee, Jr. purchased 25,641 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average price of $58.50 per share, for a total transaction of $1,499,998.50. Following the purchase, the chief executive officer now directly owns 177,264 shares of the company’s stock, valued at approximately $10,369,944. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd Burrowes purchased 2,564 shares of the company’s stock in a transaction that occurred on 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 purchase, the insider now directly owns 25,216 shares in the company, valued at $1,475,136. The disclosure for this purchase can be found here. In the last quarter, insiders bought 37,178 shares of company stock worth $2,174,913. Company 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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