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Stock Update on Darden Restaurants, Inc. (NYSE:DRI)

Stock Update on Darden Restaurants, Inc. (NYSE:DRI)
November 10
15:48 2014

[AP] Darden Restaurants, Inc. (NYSE:DRI) (Trend Analysis)named an interim chief executive; the restaurant company has brought in a new executive search firm to find its CEO.The owner of the Olive Garden and, until recently, Red Lobster, announced Wednesday that it had hired Korn/Ferry International to replace Russell Reynolds Associates. Darden has wrestled with shifting consumer tastes and in May, sold the Red Lobster chain to Golden Gate Capital for $2.1 billion in cash. It has swapped out menus and tried several marketing campaigns to drive diners to its tables, with mixed results.

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Taking a look at the company’s recent performance, Darden Restaurants, Inc. (DRI) reported First quarter earnings for fiscal 2015 on September 12th 2014 the company reported actual earnings per share of $0.32 as estimated. Darden Restaurants, Inc. (DRI) posted revenue of $1.60 billion as estimated.

Darden Restaurants, Inc. (DRI) is currently valued at $7.18 billion and closed the last trading session at $53.50. The stock has a 50-day moving average of $50.68 and a 200-day moving average of $48.66.

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There are currently eighteen analysts that we track that cover the stock. Of those eighteen, five have a Buy rating, thirteen have a Hold rating and two have a Sell rating. On a consensus basis this yields a score of 2.15 and a Hold. The combined price objective of these covering analysts is $78.13, which represents a 60.49% upside difference to the last closing price.

The most recent analyst activity consisted of Pipper Jaffraydowngrading their neutral stance on the company. Pipper Jaffray has a price target from $55.00 to $50.00 which represents a downside of 5.84% from the last closing price. On the date of the report, the stock closed at $47.08.

Another research firm weighing in recently was Miller Tabak who reiterated their rating on the stock. On October 10th Miller Tabak upgraded their price target on the stock to $59.00, or a 11.11% upside to the current price. On the day of the report, DRIshares closed at $48.37.

Company Profile

Darden Restaurants, Inc. (NYSE:DRI) owns and operates full service restaurants in the United States and Canada. It operates restaurants under the Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V’s, and Yard House brand names. As of July 28, 2014, it owned and operated approximately 1,500 restaurants. The company was founded in 1968 and is headquartered in Orlando, Florida.


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Paul Cole

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