-$1.78 Earnings Per Share Expected for Darden Restaurants, Inc. (NYSE:DRI) This Quarter

Equities analysts forecast that Darden Restaurants, Inc. (NYSE:DRI) will announce earnings of ($1.78) per share for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Darden Restaurants’ earnings. The lowest EPS estimate is ($4.07) and the highest is ($0.56). Darden Restaurants reported earnings of $1.76 per share in the same quarter last year, which indicates a negative year over year growth rate of 201.1%. The company is scheduled to report its next quarterly earnings report on Thursday, June 18th.

According to Zacks, analysts expect that Darden Restaurants will report full-year earnings of $2.58 per share for the current fiscal year, with EPS estimates ranging from $0.35 to $3.80. For the next year, analysts anticipate that the company will post earnings of $2.47 per share, with EPS estimates ranging from $0.32 to $5.26. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Darden Restaurants.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, March 19th. The restaurant operator reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.02. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Darden Restaurants had a net margin of 7.25% and a return on equity of 32.51%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.80 earnings per share.

A number of research firms recently weighed in on DRI. MKM Partners upgraded shares of Darden Restaurants from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Tuesday. Cfra cut their target price on shares of Darden Restaurants from $120.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Robert W. Baird upped their target price on shares of Darden Restaurants from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. UBS Group cut their target price on shares of Darden Restaurants from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Finally, Piper Sandler upped their target price on shares of Darden Restaurants from $50.00 to $63.00 in a research note on Monday, March 30th. Sixteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $89.23.

In related news, CEO Eugene I. Lee, Jr. purchased 25,641 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was purchased 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 directly owns 177,264 shares in the company, valued at $10,369,944. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director M Shan Atkins purchased 1,282 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were bought at an average cost of $58.50 per share, with a total value of $74,997.00. Following the completion of the acquisition, the director now owns 3,114 shares of the company’s stock, valued at $182,169. The disclosure for this purchase can be found here. Insiders bought 37,178 shares of company stock valued at $2,174,913 over the last three months. Corporate insiders own 0.47% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of DRI. Allred Capital Management LLC acquired a new stake in shares of Darden Restaurants during the fourth quarter worth $36,000. Raymond James Trust N.A. lifted its holdings in shares of Darden Restaurants by 16.0% during the fourth quarter. Raymond James Trust N.A. now owns 8,052 shares of the restaurant operator’s stock worth $878,000 after purchasing an additional 1,108 shares during the period. Cerebellum GP LLC lifted its holdings in shares of Darden Restaurants by 28.0% during the fourth quarter. Cerebellum GP LLC now owns 4,753 shares of the restaurant operator’s stock worth $518,000 after purchasing an additional 1,041 shares during the period. Camelot Portfolios LLC increased its position in shares of Darden Restaurants by 16.0% in the fourth quarter. Camelot Portfolios LLC now owns 2,129 shares of the restaurant operator’s stock valued at $232,000 after buying an additional 293 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Darden Restaurants in the fourth quarter valued at $474,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

NYSE:DRI traded down $1.59 on Friday, reaching $75.63. 2,551,916 shares of the company’s stock were exchanged, compared to its average volume of 3,177,411. The business has a fifty day moving average of $65.65 and a 200-day moving average of $95.06. 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 firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 3.03 and a beta of 1.32.

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.

Read More: NASDAQ Stock Market Explained

Get a free copy of the Zacks research report on Darden Restaurants (DRI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Darden Restaurants (NYSE:DRI)

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.