Darden Restaurants (DRI) reported quarterly earnings results on Thursday, Jun-30-2016. The company said it had a profit of $1.10 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $1.09. The company posted revenue of $1790.20 million in the period, compared to analysts expectations of $1817.58 million. The company’s revenue was down -4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.
Many Wall Street Analysts have commented on Darden Restaurants. Darden Restaurants was Upgraded by Tigress Financial to ” Buy” on Jun 24, 2016. Company shares were Upgraded by Piper Jaffray on May 17, 2016 to ” Overweight”, Firm has raised the Price Target to $ 78 from a previous price target of $67 .Shares were Reiterated by Maxim Group on Apr 6, 2016 to “Buy” and Lowered the Price Target to $ 77 from a previous price target of $79 .
Darden Restaurants opened for trading at $65.79 and hit $66.45 on the upside on Wednesday, eventually ending the session at $65.96, with a gain of 1.10% or 0.72 points. The heightened volatility saw the trading volume jump to 49,75,861 shares. Company has a market cap of $8,359 M.
In a different news, on Apr 20, 2016, Alan N Stillman (director) sold 2,000 shares at $65.30 per share price. According to the SEC, on Mar 14, 2016, Jeffrey C Smith (director) sold 370,566 shares at $67.69 per share price. On Dec 23, 2015, David C George (President, Olive Garden) sold 40,008 shares at $63.78 per share price, according to the Form-4 filing with the securities and exchange commission.
Darden Restaurants Inc. is a full service restaurant company. The Company owns and operates more than 1500 restaurants. The Company’s restaurant brands include Olive Garden LongHorn Steakhouse Bahama Breeze Seasons 52 The Capital Grille Eddie V’s Prime Seafood Wildfish Seafood Grill and Yard House. Through subsidiaries the Company owns and operates all of its restaurants in the United States and Canada except for three restaurants located in Florida and three restaurants in California which are owned jointly by the Company and third parties and managed by the Company seven franchised restaurants in Puerto Rico and one Atlanta Georgia airport location.