Revenue Update on Darden Restaurants(NYSE:DRI)

Darden Restaurants(NYSE:DRI) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during Pre-market on Oct 4, 2016. Company reported revenue of $1.71B. Analysts estimated a revenue of $1.72B. Earnings per share were $0.88. Analysts had estimated an EPS of $0.82.

In a different note, Canaccord Genuity said it Initiates Coverage on Darden Restaurants, according to a research note issued on Aug 22, 2016. The shares have been rated ‘Buy’ by the firm. On Jul 26, 2016, Stifel Nicolaus said it Downgrades its rating on Darden Restaurants. The shares have been rated ‘Sell’ by the firm. On Jul 13, 2016, Wells Fargo said it Downgrades its rating on Darden Restaurants. The shares have been rated ‘Underperform’ by the firm.

Darden Restaurants (DRI) made into the market gainers list on Fridays trading session with the shares advancing 0.08% or 0.05 points. Due to strong positive momentum, the stock ended at $62.23, which is also near the day’s high of $62.88. The stock began the session at $62.25 and the volume stood at 8,61,551 shares. The 52-week high of the shares is $68.68 and the 52 week low is $53.38. The company has a current market capitalization of $7,659 M and it has 12,30,80,807 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 11, 2016, James P Fogarty (director) purchased 3,000 shares at $61.70 per share price.Also, On Apr 20, 2016, Alan N Stillman (director) sold 2,000 shares at $65.30 per share price.On Mar 14, 2016, Jeffrey C Smith (director) sold 370,566 shares at $67.69 per share price, according to the Form-4 filing with the securities and exchange commission.

Darden Restaurants Inc. is a full service restaurant company. The Company owns and operates more than 1500 restaurants. The Company’s restaurant brands include Olive Garden LongHorn Steakhouse Bahama Breeze Seasons 52 The Capital Grille Eddie V’s Prime Seafood Wildfish Seafood Grill and Yard House. Through subsidiaries the Company owns and operates all of its restaurants in the United States and Canada except for three restaurants located in Florida and three restaurants in California which are owned jointly by the Company and third parties and managed by the Company seven franchised restaurants in Puerto Rico and one Atlanta Georgia airport location.

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