Darden Restaurants (DRI) Releases Earnings Results, Beats Expectations By $0.06 EPS

Darden Restaurants (DRI) announced its most recent quarterly financial results on Tuesday, Oct-4-2016. DRI said it had a profit of $0.88 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.82. The company posted revenue of $17114.40 million in the period, compared to analysts expectations of $1719.41 million. DRI’s revenue was up 914.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on Darden Restaurants. Shares were Reiterated by Stifel on Oct 3, 2016 to “Sell” and Lowered the Price Target to $ 50 from a previous price target of $53 .Stifel Downgraded Darden Restaurants on Jul 26, 2016 to ” Sell”, Price Target of the shares are set at $53.Darden Restaurants was Downgraded by Wells Fargo to ” Market Perform” on Jul 13, 2016.

Darden Restaurants opened for trading at $60.61 and hit $61.495 on the upside on Friday, eventually ending the session at $61.32, with a gain of 1.14% or 0.69 points. The heightened volatility saw the trading volume jump to 23,00,325 shares. Company has a market cap of $7,740 M.

In a different news, on Jul 11, 2016, James P Fogarty (director) purchased 3,000 shares at $61.70 per share price. According to the SEC, on Apr 20, 2016, Alan N Stillman (director) sold 2,000 shares at $65.30 per share price. On Mar 14, 2016, Jeffrey C Smith (director) sold 370,566 shares at $67.69 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.

Darden Restaurants

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