Darden Restaurants, Inc. [NYSE: DRI] plunged by -$11.34 during the normal trading session on while it closed the day at $163.24. The company report on March 21, 2024 at 7:00 AM that Darden Restaurants Reports Fiscal 2024 Third Quarter Results; Declares Quarterly Dividend; Authorizes New $1 Billion Share Repurchase Program; And Updates Fiscal 2024 Financial Outlook.
Darden Restaurants, Inc. (NYSE:DRI) today reported its financial results for the third quarter ended February 25, 2024.
Third Quarter 2024 Financial Highlights, Comparisons Versus Same Fiscal Quarter Last Year.
Darden Restaurants, Inc. stock has also loss -4.97% of its value over the past 7 days. However, DRI stock has declined by -1.34% in the 3 months of the year. Over the past six months meanwhile, it has gained 9.22% and lost -0.65% year-on date.
The market cap for DRI stock reached $19.49 billion, with 121.07 million shares outstanding and 118.95 million shares in the current float. Compared to the average trading volume of 1.02M shares, DRI reached a trading volume of 3891572 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Darden Restaurants, Inc. [DRI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DRI shares is $180.96 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DRI stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Deutsche Bank have made an estimate for Darden Restaurants, Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 19, 2023. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Neutral. The new note on the price target was released on July 18, 2023, representing the official price target for Darden Restaurants, Inc. stock. Previously, the target price had yet another raise to $170, while Guggenheim analysts kept a Buy rating on DRI stock.
The Average True Range (ATR) for Darden Restaurants, Inc. is set at 3.34, with the Price to Sales ratio for DRI stock in the period of the last 12 months amounting to 1.74. The Price to Book ratio for the last quarter was 9.56, with the Price to Cash per share for the same quarter was set at 2.04. Price to Free Cash Flow for DRI in the course of the last twelve months was 19.99 with Quick ratio for the last quarter at 0.25.
DRI stock trade performance evaluation
Darden Restaurants, Inc. [DRI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.97. With this latest performance, DRI shares dropped by -1.92% in over the last four-week period, additionally plugging by 9.22% over the last 6 months – not to mention a rise of 7.09% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DRI stock in for the last two-week period is set at 36.47, with the RSI for the last a single of trading hit 28.76, and the three-weeks RSI is set at 41.79 for Darden Restaurants, Inc. [DRI]. The present Moving Average for the last 50 days of trading for this stock 166.55, while it was recorded at 171.35 for the last single week of trading, and 158.93 for the last 200 days.
Darden Restaurants, Inc. [DRI]: An insightful look at the core fundamentals
Darden Restaurants, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.25 and a Current Ratio set at 0.39.
Earnings per share (EPS) analysis for Darden Restaurants, Inc. [DRI] stock
With the latest financial reports released by the company, Darden Restaurants, Inc. posted 2.34/share EPS, while the average EPS was predicted by analysts to be reported at 2.25/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DRI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Darden Restaurants, Inc. go to 10.00%.
Darden Restaurants, Inc. [DRI]: Institutional Ownership
The top three institutional holders of DRI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DRI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DRI stock with ownership which is approximately 5.8325%.
