Darden Restaurants (DRI) Stock Rating Reaffirmed by SunTrust Banks

Darden Restaurants (NYSE:DRI)‘s stock had its “hold” rating restated by research analysts at SunTrust Banks in a research note issued to investors on Thursday. SunTrust Banks also issued estimates for Darden Restaurants’ Q3 2018 earnings at $1.51 EPS, Q4 2018 earnings at $1.34 EPS, FY2018 earnings at $4.51 EPS, Q1 2019 earnings at $1.13 EPS and FY2019 earnings at $5.10 EPS.

A number of other brokerages have also weighed in on DRI. Argus raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and boosted their price objective for the company from $95.67 to $108.00 in a report on Thursday. Sanford C. Bernstein boosted their price objective on shares of Darden Restaurants from $91.00 to $99.00 and gave the company a “market perform” rating in a report on Wednesday. Jefferies Group boosted their price objective on shares of Darden Restaurants from $82.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday. BMO Capital Markets set a $101.00 price objective on shares of Darden Restaurants and gave the company a “hold” rating in a report on Tuesday. Finally, Credit Suisse Group reissued a “market perform” rating and set a $90.00 price objective (up from $82.00) on shares of Darden Restaurants in a report on Wednesday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. Darden Restaurants presently has an average rating of “Hold” and a consensus target price of $93.05.

Darden Restaurants (NYSE:DRI) opened at $96.40 on Thursday. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 0.47. Darden Restaurants has a 1-year low of $71.01 and a 1-year high of $98.29. The stock has a market cap of $11,760.00, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 2.06 and a beta of 0.22.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.99. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. sell-side analysts anticipate that Darden Restaurants will post 4.5 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HS Management Partners LLC purchased a new stake in Darden Restaurants during the 3rd quarter valued at about $157,044,000. Janus Henderson Group PLC grew its stake in Darden Restaurants by 113.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,576,026 shares of the restaurant operator’s stock valued at $124,158,000 after acquiring an additional 838,341 shares in the last quarter. APG Asset Management N.V. grew its stake in Darden Restaurants by 34.4% during the 3rd quarter. APG Asset Management N.V. now owns 2,361,712 shares of the restaurant operator’s stock valued at $186,056,000 after acquiring an additional 604,364 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Darden Restaurants by 66.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator’s stock valued at $115,348,000 after acquiring an additional 510,969 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Darden Restaurants by 79.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 722,952 shares of the restaurant operator’s stock valued at $56,954,000 after acquiring an additional 320,902 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

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About Darden Restaurants

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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