S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01

Darden Restaurants, Inc. (NYSE:DRI) Expected to Post Quarterly Sales of $2.54 Billion

Last updated on Tuesday, January 4, 2022 | 2022 MarketBeat

Wall Street analysts forecast that Darden Restaurants, Inc. (NYSE:DRI) will post sales of $2.54 billion for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Darden Restaurants' earnings. The lowest sales estimate is $2.50 billion and the highest is $2.59 billion. Darden Restaurants posted sales of $1.73 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 46.8%. The company is scheduled to report its next quarterly earnings report on Thursday, March 24th.

On average, analysts expect that Darden Restaurants will report full-year sales of $8.94 billion for the current financial year, with estimates ranging from $2.58 billion to $9.75 billion. For the next fiscal year, analysts anticipate that the business will report sales of $10.25 billion, with estimates ranging from $10.13 billion to $10.43 billion. Zacks Investment Research's sales averages are a mean average based on a survey of analysts that cover Darden Restaurants.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Friday, December 17th. The restaurant operator reported $1.48 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.43 by $0.05. Darden Restaurants had a return on equity of 30.83% and a net margin of 10.73%. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the company posted $0.74 EPS. Darden Restaurants's revenue for the quarter was up 37.2% on a year-over-year basis.

DRI has been the subject of a number of recent analyst reports. Wedbush decreased their price target on Darden Restaurants from $162.00 to $150.00 and set a "neutral" rating for the company in a research report on Monday, December 20th. Stifel Nicolaus raised shares of Darden Restaurants from a "hold" rating to a "buy" rating and set a $165.00 price target for the company in a research report on Tuesday, December 21st. BMO Capital Markets boosted their price objective on shares of Darden Restaurants from $150.00 to $155.00 and gave the company a "market perform" rating in a research report on Friday, September 24th. Barclays upped their price objective on shares of Darden Restaurants from $175.00 to $179.00 and gave the company an "overweight" rating in a research note on Wednesday, December 15th. Finally, Truist lifted their target price on shares of Darden Restaurants from $167.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, September 24th. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $167.00.

In related news, Director M Shan Atkins sold 3,123 shares of the firm's stock in a transaction that occurred on Tuesday, December 28th. The stock was sold at an average price of $151.11, for a total value of $471,916.53. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Marco Investment Management LLC increased its position in Darden Restaurants by 27.2% in the 2nd quarter. Marco Investment Management LLC now owns 8,418 shares of the restaurant operator's stock worth $1,229,000 after buying an additional 1,800 shares during the period. AdvisorNet Financial Inc increased its position in Darden Restaurants by 1,251.1% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,189 shares of the restaurant operator's stock worth $180,000 after buying an additional 1,101 shares during the period. Cookson Peirce & Co. Inc. increased its position in Darden Restaurants by 15.1% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 24,190 shares of the restaurant operator's stock worth $3,664,000 after buying an additional 3,165 shares during the period. ARS Wealth Advisors Group LLC bought a new position in Darden Restaurants in the 3rd quarter worth approximately $208,000. Finally, Geode Capital Management LLC increased its position in Darden Restaurants by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,304,952 shares of the restaurant operator's stock worth $335,595,000 after buying an additional 119,711 shares during the period. 89.49% of the stock is currently owned by institutional investors.

NYSE:DRI opened at $148.78 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.85 and a debt-to-equity ratio of 0.37. Darden Restaurants has a 1-year low of $110.89 and a 1-year high of $164.28. The firm has a market capitalization of $19.31 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46. The stock has a fifty day simple moving average of $146.87 and a 200 day simple moving average of $146.90.

Darden Restaurants declared that its Board of Directors has authorized a share buyback plan on Thursday, September 23rd that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 1st. Investors of record on Monday, January 10th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, January 7th. Darden Restaurants's payout ratio is 62.95%.

Darden Restaurants Company Profile

Darden Restaurants, Inc is a full-service restaurant company, which engages in the provision of restaurant services. It operates through the following segments: Olive Garden, LongHorn Steakhouse, Fine Dining, and Other Business. The Olive Garden segment is the largest full-service dining Italian restaurant operator.

Featured Story: What is included in the gross domestic product?

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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Should you invest $1,000 in Darden Restaurants right now?

Before you consider Darden Restaurants, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Darden Restaurants wasn't on the list.

While Darden Restaurants currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.