Q2 2021 Earnings Forecast for Darden Restaurants, Inc. Issued By KeyCorp (NYSE:DRI)

Darden Restaurants, Inc. (NYSE:DRI) – KeyCorp cut their Q2 2021 earnings per share (EPS) estimates for Darden Restaurants in a report issued on Thursday, June 25th. KeyCorp analyst E. Gonzalez now expects that the restaurant operator will post earnings of $0.41 per share for the quarter, down from their previous estimate of $0.44. KeyCorp currently has a “Overweight” rating and a $87.00 price target on the stock.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, June 25th. The restaurant operator reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.40. Darden Restaurants had a negative net margin of 0.67% and a positive return on equity of 16.68%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm earned $1.76 earnings per share. The business’s quarterly revenue was down 43.5% compared to the same quarter last year.

A number of other research analysts have also weighed in on the stock. Cfra dropped their price target on shares of Darden Restaurants from $120.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. BTIG Research dropped their price target on shares of Darden Restaurants from $126.00 to $82.00 in a research report on Friday, March 20th. Loop Capital raised their price target on shares of Darden Restaurants from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. Wedbush raised shares of Darden Restaurants from a “neutral” rating to an “outperform” rating in a research report on Sunday, April 19th. Finally, Wolfe Research initiated coverage on shares of Darden Restaurants in a research report on Friday, April 17th. They set an “outperform” rating and a $75.00 price target on the stock. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Darden Restaurants has an average rating of “Buy” and an average target price of $90.48.

DRI opened at $76.63 on Monday. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.41 and a quick ratio of 0.27. The company’s 50-day moving average is $75.85 and its 200 day moving average is $87.82. Darden Restaurants has a fifty-two week low of $26.15 and a fifty-two week high of $128.41. The firm has a market capitalization of $8.81 billion, a P/E ratio of -191.58, a PEG ratio of 2.96 and a beta of 1.32.

A number of large investors have recently modified their holdings of the stock. Greenleaf Trust grew its stake in Darden Restaurants by 5.1% during the fourth quarter. Greenleaf Trust now owns 1,987 shares of the restaurant operator’s stock valued at $217,000 after acquiring an additional 97 shares in the last quarter. Utah Retirement Systems grew its stake in Darden Restaurants by 0.4% during the fourth quarter. Utah Retirement Systems now owns 23,497 shares of the restaurant operator’s stock valued at $2,562,000 after acquiring an additional 100 shares in the last quarter. Vident Investment Advisory LLC grew its stake in Darden Restaurants by 2.9% during the fourth quarter. Vident Investment Advisory LLC now owns 4,258 shares of the restaurant operator’s stock valued at $464,000 after acquiring an additional 120 shares in the last quarter. Wesbanco Bank Inc. grew its stake in Darden Restaurants by 4.1% in the 4th quarter. Wesbanco Bank Inc. now owns 3,691 shares of the restaurant operator’s stock worth $402,000 after buying an additional 145 shares in the last quarter. Finally, Sowell Financial Services LLC grew its stake in Darden Restaurants by 2.7% in the 1st quarter. Sowell Financial Services LLC now owns 6,068 shares of the restaurant operator’s stock worth $330,000 after buying an additional 157 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

In other news, insider Todd Burrowes acquired 2,564 shares of Darden Restaurants stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average price of $58.50 per share, with a total value of $149,994.00. Following the completion of the purchase, the insider now owns 25,216 shares in the company, valued at $1,475,136. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Shan Atkins acquired 1,282 shares of Darden Restaurants stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average cost of $58.50 per share, with a total value of $74,997.00. Following the purchase, the director now owns 3,114 shares of the company’s stock, valued at approximately $182,169. The disclosure for this purchase can be found here. Insiders bought 37,178 shares of company stock valued at $2,174,913 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

About Darden Restaurants

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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