Today: The Q2 2017 EPS Estimates for Darden Restaurants Inc. (DRI) Lifted by Analyst

The Q2 2017 EPS Estimates for Darden Restaurants Inc. (DRI) Lifted by Analyst

Darden Restaurants Inc. (NYSE:DRI) – Analysts at KeyCorp lifted their Q2 2017 earnings per share estimates for shares of Darden Restaurants in a note issued to investors on Tuesday. KeyCorp analyst C. O’cull now forecasts that the brokerage will post earnings of $0.63 per share for the quarter, up from their previous estimate of $0.57. KeyCorp also issued estimates for Darden Restaurants’ Q3 2017 earnings at $1.27 EPS and Q4 2017 earnings at $1.15 EPS.

Other analysts have also issued research reports about the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $76.00 price objective on shares of Darden Restaurants in a research note on Tuesday, July 5th. Tigress Financial upgraded shares of Darden Restaurants from a “neutral” rating to a “buy” rating in a research note on Thursday, June 23rd. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Wednesday, June 15th. BTIG Research reiterated a “buy” rating and issued a $75.00 price objective on shares of Darden Restaurants in a research note on Friday, July 1st. Finally, Maxim Group reiterated a “buy” rating and issued a $74.00 price objective (down previously from $77.00) on shares of Darden Restaurants in a research note on Friday, July 1st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.89.

Shares of Darden Restaurants (NYSE:DRI) traded up 1.12% during mid-day trading on Thursday, reaching $61.63. 1,607,093 shares of the company’s stock were exchanged. The company has a market cap of $7.70 billion, a PE ratio of 19.90 and a beta of 0.41. Darden Restaurants has a 52-week low of $53.38 and a 52-week high of $68.68. The company’s 50-day moving average price is $61.89 and its 200 day moving average price is $63.77.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.06. Darden Restaurants had a net margin of 5.73% and a return on equity of 24.97%. The business earned $1.71 billion during the quarter. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year.

Several large investors have recently made changes to their positions in DRI. Vanguard Group Inc. boosted its stake in shares of Darden Restaurants by 5.3% in the second quarter. Vanguard Group Inc. now owns 12,676,075 shares of the restaurant operator’s stock valued at $802,903,000 after buying an additional 640,845 shares in the last quarter. State Street Corp boosted its stake in shares of Darden Restaurants by 0.6% in the first quarter. State Street Corp now owns 5,228,348 shares of the restaurant operator’s stock valued at $346,649,000 after buying an additional 32,258 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Darden Restaurants by 12.2% in the second quarter. BlackRock Fund Advisors now owns 4,646,824 shares of the restaurant operator’s stock valued at $294,330,000 after buying an additional 505,377 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Darden Restaurants by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 3,902,816 shares of the restaurant operator’s stock valued at $247,202,000 after buying an additional 308,834 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Darden Restaurants by 16.3% in the second quarter. Ameriprise Financial Inc. now owns 3,893,719 shares of the restaurant operator’s stock valued at $246,621,000 after buying an additional 544,413 shares in the last quarter. Hedge funds and other institutional investors own 94.57% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Wednesday, October 5th. Darden Restaurants’s dividend payout ratio is presently 72.03%.

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