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What to Expect From Darden Earnings

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By Chris Lange Updated Published
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What to Expect From Darden Earnings

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Darden Restaurants Inc. (NYSE: DRI) is set to report its fiscal third-quarter earnings Tuesday before the markets open. The consensus estimates from Thomson Reuters call for $1.19 in earnings per share (EPS) on $1.84 billion in revenue. In the same period of the previous year, it posted EPS of $0.99 and $1.73 billion in revenue.

This is one of the largest casual dining restaurant operators worldwide, with operations in the United States and Canada and over 1,500 restaurants as of July 2015. Darden operates restaurants under the Olive Garden, Longhorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V’s and Yard House brand names.

Management returns much of its free cash to shareholders through share repurchases and dividends. With consumers having extra cash to spend as gasoline prices continue to stay low, the stock makes good sense for investors.
[nativounit]
A couple of analysts weighed in on Darden ahead of its earnings:

  • Deutsche Bank reiterated a Buy rating.
  • Maxim has a Buy rating and raised its price target to $79 from $70.
  • RBC Capital has a Sector Perform rating and raised its price target to $70 from $68.
  • Credit Suisse has an Outperform rating and raised its price target to $72 from $68.

So far in 2016, Daren has outperformed the broad markets, with the stock up 6.2%. However, over the past 52 weeks the stock is down 2.6%.

Shares of Darden were up 0.3% at $67.27 midday Monday. The stock has a consensus analyst price target of $70.48 and a 52-week trading range of $53.38 to $75.60.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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