Research analysts at Telsey Advisory Group cut their price target on shares of Darden Restaurants (NYSE:DRI) from $54.00 to $49.00 in a report released on Monday, Analyst Ratings Network reports. The firm currently has a “not rated” rating on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 7.03% from the stock’s previous close.
Shares of Darden Restaurants (NYSE:DRI) opened at 45.78 on Monday. Darden Restaurants has a 52 week low of $44.11 and a 52 week high of $57.07. The stock’s 50-day moving average is $48.02 and its 200-day moving average is $50.14. The company has a market cap of $5.961 billion and a price-to-earnings ratio of 16.26.
Darden Restaurants (NYSE:DRI) last announced its earnings results on Friday, September 20th. The company reported $0.53 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.70 by $0.17. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that Darden Restaurants will post $2.94 earnings per share for the current fiscal year.
A number of other firms have also recently commented on DRI. Analysts at Stephens downgraded shares of Darden Restaurants (NYSE:DRI) from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. Separately, analysts at Janney Montgomery Scott cut their price target on shares of Darden Restaurants (NYSE:DRI) from $57.00 to $54.00 in a research note to investors on Sunday. They now have a “buy” rating on the stock. Finally, analysts at Miller Tabak cut their price target on shares of Darden Restaurants (NYSE:DRI) from $57.00 to $55.00 in a research note to investors on Friday. They now have a “buy” rating on the stock.
Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $50.79.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.81%.
Darden Restaurants, Inc (NYSE:DRI) is a company owned and full-service restaurant company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.