Q4 2024 Earnings Forecast for Darden Restaurants, Inc. Issued By Zacks Research (NYSE:DRI)

Darden Restaurants, Inc. (NYSE:DRI) – Investment analysts at Zacks Research lifted their Q4 2024 earnings per share estimates for Darden Restaurants in a research note issued to investors on Thursday, April 4th. Zacks Research analyst M. Kaushik now anticipates that the restaurant operator will earn $2.60 per share for the quarter, up from their previous forecast of $2.59. The consensus estimate for Darden Restaurants’ current full-year earnings is $8.85 per share. Zacks Research also issued estimates for Darden Restaurants’ Q1 2025 earnings at $1.86 EPS, Q2 2025 earnings at $1.88 EPS, Q3 2025 earnings at $2.78 EPS, Q4 2025 earnings at $2.95 EPS, FY2025 earnings at $9.47 EPS, Q1 2026 earnings at $1.86 EPS, Q2 2026 earnings at $2.13 EPS, Q3 2026 earnings at $3.17 EPS and FY2026 earnings at $10.47 EPS.

Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.01). Darden Restaurants had a net margin of 9.24% and a return on equity of 49.94%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the business posted $2.34 EPS. Darden Restaurants’s revenue for the quarter was up 6.8% on a year-over-year basis.

DRI has been the subject of a number of other research reports. Evercore ISI raised their price target on Darden Restaurants from $160.00 to $170.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 12th. BMO Capital Markets upped their target price on Darden Restaurants from $160.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. increased their price target on shares of Darden Restaurants from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Morgan Stanley reduced their price objective on Darden Restaurants from $184.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Finally, Stephens reissued an “overweight” rating and set a $170.00 price target on shares of Darden Restaurants in a research report on Monday, December 18th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.85.

Darden Restaurants Stock Up 0.2 %

NYSE DRI opened at $158.30 on Monday. The business’s 50-day moving average is $167.20 and its 200 day moving average is $158.23. The stock has a market capitalization of $18.89 billion, a PE ratio of 18.56, a PEG ratio of 1.72 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.39 and a quick ratio of 0.25. Darden Restaurants has a 1 year low of $133.36 and a 1 year high of $176.84.

Darden Restaurants declared that its Board of Directors has approved a share repurchase plan on Thursday, March 21st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Darden Restaurants Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 3.31%. The ex-dividend date is Tuesday, April 9th. Darden Restaurants’s dividend payout ratio (DPR) is 61.43%.

Insider Activity at Darden Restaurants

In other Darden Restaurants news, SVP Matthew R. Broad sold 6,831 shares of Darden Restaurants stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $163.26, for a total value of $1,115,229.06. Following the completion of the transaction, the senior vice president now owns 19,141 shares of the company’s stock, valued at $3,124,959.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Matthew R. Broad sold 6,831 shares of Darden Restaurants stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $163.26, for a total value of $1,115,229.06. Following the sale, the senior vice president now owns 19,141 shares in the company, valued at $3,124,959.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William S. Simon sold 1,219 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $158.21, for a total transaction of $192,857.99. Following the transaction, the director now owns 6,281 shares of the company’s stock, valued at approximately $993,717.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,723 shares of company stock worth $2,578,122. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of Darden Restaurants

Several institutional investors have recently made changes to their positions in DRI. Rise Advisors LLC boosted its holdings in Darden Restaurants by 131.3% in the first quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 88 shares during the period. Quarry LP grew its holdings in shares of Darden Restaurants by 980.0% during the second quarter. Quarry LP now owns 162 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 147 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Darden Restaurants during the fourth quarter worth about $29,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Darden Restaurants in the 4th quarter valued at about $29,000. Finally, Hartford Financial Management Inc. boosted its position in shares of Darden Restaurants by 65.1% in the 4th quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Darden Restaurants Company Profile

Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V's Prime Seafood, and Capital Burger brand names.