Darden Restaurants (DRI) Price Target Raised to $90.00 at Jefferies Group

Darden Restaurants (NYSE:DRI) had its target price lifted by Jefferies Group from $82.00 to $90.00 in a report released on Wednesday. Jefferies Group currently has a hold rating on the restaurant operator’s stock. Jefferies Group also issued estimates for Darden Restaurants’ FY2018 earnings at $4.49 EPS, Q1 2019 earnings at $1.03 EPS, Q2 2019 earnings at $0.76 EPS, Q3 2019 earnings at $1.58 EPS and Q4 2019 earnings at $1.37 EPS.

A number of other equities research analysts also recently commented on the company. BMO Capital Markets set a $101.00 target price on Darden Restaurants and gave the company a hold rating in a research report on Tuesday. Credit Suisse Group restated a market perform rating and issued a $90.00 target price (up previously from $82.00) on shares of Darden Restaurants in a research report on Wednesday. They noted that the move was a valuation call. Maxim Group restated a buy rating and issued a $103.00 target price (up previously from $93.00) on shares of Darden Restaurants in a research report on Wednesday. Robert W. Baird restated an outperform rating and issued a $104.00 target price (up previously from $94.00) on shares of Darden Restaurants in a research report on Wednesday. Finally, Zacks Investment Research downgraded Darden Restaurants from a buy rating to a hold rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $92.70.

Shares of Darden Restaurants (NYSE DRI) traded down $1.02 during trading on Wednesday, reaching $95.67. The company had a trading volume of 2,720,000 shares, compared to its average volume of 1,631,241. Darden Restaurants has a 52-week low of $71.01 and a 52-week high of $98.29. The stock has a market capitalization of $11,957.97, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 2.10 and a beta of 0.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.24 and a current ratio of 0.34.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.99. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the business posted $0.88 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. equities analysts predict that Darden Restaurants will post 4.47 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.52 annualized dividend and a yield of 2.63%. Darden Restaurants’s payout ratio is 64.62%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. grew its stake in Darden Restaurants by 1.7% during the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after purchasing an additional 21 shares in the last quarter. M&R Capital Management Inc. acquired a new position in Darden Restaurants during the 2nd quarter worth $108,000. Moisand Fitzgerald Tamayo LLC acquired a new position in Darden Restaurants during the 3rd quarter worth $115,000. Grove Bank & Trust grew its stake in Darden Restaurants by 155.6% during the 3rd quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after purchasing an additional 1,120 shares in the last quarter. Finally, First National Trust Co. acquired a new position in Darden Restaurants during the 2nd quarter worth $217,000. 91.45% of the stock is owned by hedge funds and other institutional investors.

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Darden Restaurants Company Profile

Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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