Darden Restaurants (NYSE:DRI) issued its earnings results on Thursday, September 20th. The restaurant operator reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.10, RTT News reports. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.03 billion. Darden Restaurants had a net margin of 7.84% and a return on equity of 30.32%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Darden Restaurants updated its FY19 guidance to $5.52-5.65 EPS.

Shares of Darden Restaurants stock traded up $2.71 during trading hours on Friday, hitting $106.76. The company’s stock had a trading volume of 1,669,483 shares, compared to its average volume of 1,525,153. Darden Restaurants has a 1-year low of $78.83 and a 1-year high of $124.00. The firm has a market capitalization of $13.74 billion, a P/E ratio of 22.20, a PEG ratio of 2.11 and a beta of 0.17. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 0.41.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Tuesday, October 9th. Darden Restaurants’s payout ratio is currently 26.20%.

A number of analysts recently commented on the stock. Mizuho boosted their price objective on shares of Darden Restaurants to $115.00 and gave the stock a “buy” rating in a report on Friday, June 22nd. Jefferies Financial Group upped their price target on shares of Darden Restaurants from $90.00 to $100.00 and gave the company a “hold” rating in a report on Friday, June 22nd. Stephens upped their price target on shares of Darden Restaurants from $105.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, June 22nd. SunTrust Banks upped their price target on shares of Darden Restaurants to $117.00 and gave the company a “buy” rating in a report on Friday, June 22nd. Finally, Stifel Nicolaus upped their price target on shares of Darden Restaurants to $115.00 and gave the company a “buy” rating in a report on Thursday, June 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. Darden Restaurants currently has a consensus rating of “Buy” and an average price target of $119.65.

In other news, COO David C. George sold 55,671 shares of the company’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $108.24, for a total value of $6,025,829.04. Following the completion of the transaction, the chief operating officer now directly owns 95,236 shares in the company, valued at $10,308,344.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eugene I. Lee, Jr. sold 60,688 shares of the company’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $112.63, for a total transaction of $6,835,289.44. Following the completion of the transaction, the insider now owns 147,561 shares of the company’s stock, valued at $16,619,795.43. The disclosure for this sale can be found here. Insiders sold 118,545 shares of company stock valued at $13,103,896 in the last three months. Company insiders own 0.65% of the company’s stock.

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.

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Earnings History for Darden Restaurants (NYSE:DRI)

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