Media stories about Darden Restaurants (NYSE:DRI) have trended somewhat positive this week, AlphaOne reports. AlphaOne, a service of Accern, identifies positive and negative news coverage by monitoring more than twenty million news and blog sources. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Darden Restaurants earned a media sentiment score of 0.15 on AlphaOne’s scale. AlphaOne also gave news coverage about the restaurant operator an impact score of 79 out of 100, meaning that recent news coverage is likely to have an effect on the stock’s share price in the next few days.
Here are some of the news stories that may have effected Alpha One Sentiment Analysis’s analysis:
- DRI Crosses Above Average Analyst Target – Nasdaq (nasdaq.com)
- Is the Options Market Predicting a Spike in Darden Restaurants (DRI) Stock? – Nasdaq (nasdaq.com)
- Darden Restaurants (DRI) Receiving Somewhat Favorable Media Coverage, Study Finds (americanbankingnews.com)
- Why Did Darden Restaurants, Inc. Shares Gain 12% in March? (fool.com)
A number of brokerages recently issued reports on DRI. Royal Bank of Canada boosted their price objective on shares of Darden Restaurants from $80.00 to $86.00 and gave the company a “sector perform” rating in a report on Wednesday, March 29th. Canaccord Genuity boosted their price objective on shares of Darden Restaurants from $84.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, March 29th. BTIG Research cut shares of Darden Restaurants from a “buy” rating to a “neutral” rating in a report on Wednesday, March 29th. They noted that the move was a valuation call. Jefferies Group LLC restated a “hold” rating and set a $72.00 price objective on shares of Darden Restaurants in a report on Wednesday, December 21st. Finally, BMO Capital Markets boosted their price objective on shares of Darden Restaurants from $80.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $78.00.
Shares of Darden Restaurants (NYSE:DRI) traded up 1.22% during trading on Thursday, hitting $84.05. 1,284,129 shares of the stock traded hands. The stock has a 50 day moving average price of $79.18 and a 200-day moving average price of $73.19. Darden Restaurants has a 1-year low of $59.50 and a 1-year high of $84.55. The stock has a market cap of $10.45 billion, a price-to-earnings ratio of 21.47 and a beta of 0.28.
Darden Restaurants (NYSE:DRI) last posted its earnings results on Monday, March 27th. The restaurant operator reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.05. The business earned $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Darden Restaurants had a return on equity of 25.92% and a net margin of 6.22%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. Equities analysts forecast that Darden Restaurants will post $3.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, April 6th. Darden Restaurants’s payout ratio is presently 65.50%.
In other Darden Restaurants news, insider David C. George sold 84,283 shares of Darden Restaurants stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $83.13, for a total transaction of $7,006,445.79. Following the completion of the transaction, the insider now owns 78,010 shares of the company’s stock, valued at approximately $6,484,971.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eugene I. Lee, Jr. sold 98,124 shares of Darden Restaurants stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $83.19, for a total value of $8,162,935.56. Following the transaction, the insider now directly owns 177,737 shares of the company’s stock, valued at approximately $14,785,941.03. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.
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Darden Restaurants Company Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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