Darden Restaurants (NYSE:DRI) Updates FY20 Earnings Guidance

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Darden Restaurants (NYSE:DRI) updated its FY20 earnings guidance on Thursday. The company provided earnings per share guidance of $6.30-6.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.41. The company issued revenue guidance of +5.3-6..3% to $8.96-9.05 billion, compared to the consensus revenue estimate of $9.03 billion.Darden Restaurants also updated its FY 2020 guidance to $6.30-6.45 EPS.

Several brokerages recently issued reports on DRI. Zacks Investment Research downgraded Darden Restaurants from a buy rating to a hold rating and set a $125.00 price objective for the company. in a research report on Wednesday, June 12th. ValuEngine downgraded Darden Restaurants from a buy rating to a hold rating in a research report on Thursday, August 1st. Evercore ISI began coverage on Darden Restaurants in a research report on Tuesday, June 11th. They set an outperform rating and a $135.00 price objective for the company. Stephens downgraded Darden Restaurants from an overweight rating to an equal weight rating and set a $121.75 price objective for the company. in a research report on Friday, June 28th. Finally, KeyCorp began coverage on Darden Restaurants in a research report on Tuesday, July 23rd. They set an overweight rating and a $140.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company’s stock. Darden Restaurants presently has an average rating of Buy and a consensus target price of $126.07.

Shares of Darden Restaurants stock opened at $119.80 on Friday. The company has a fifty day moving average price of $121.72 and a 200 day moving average price of $119.69. The company has a current ratio of 0.61, a quick ratio of 0.46 and a debt-to-equity ratio of 0.39. Darden Restaurants has a twelve month low of $95.83 and a twelve month high of $128.41. The stock has a market cap of $15.65 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.97 and a beta of 0.34.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.02. Darden Restaurants had a net margin of 8.38% and a return on equity of 31.61%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the company earned $1.34 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. Analysts forecast that Darden Restaurants will post 6.38 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $3.52 dividend on an annualized basis and a yield of 2.94%. Darden Restaurants’s payout ratio is currently 60.48%.

In other Darden Restaurants news, insider Daniel J. Kiernan sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $123.92, for a total value of $1,487,040.00. Following the completion of the transaction, the insider now directly owns 14,577 shares of the company’s stock, valued at approximately $1,806,381.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP John W. Madonna sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $124.12, for a total transaction of $124,120.00. Following the completion of the transaction, the senior vice president now directly owns 8,726 shares of the company’s stock, valued at $1,083,071.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,907 shares of company stock valued at $11,975,585. 0.47% of the stock is currently owned by corporate insiders.

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 and Estimates for Darden Restaurants (NYSE:DRI)

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