Revenue Update on Darden Restaurants(NYSE:DRI)

Darden Restaurants(NYSE:DRI) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-market on Jun 30, 2016. Company reported revenue of $1.79B. Analysts estimated a revenue of $1.82B. Earnings per share were $1.10. Analysts had estimated an EPS of $1.08.

In a different note, On Jun 23, 2016, Tigress Financial said it Upgrades its rating on Darden Restaurants. The shares have been rated ‘Buy’ by the firm. Bernstein said it Initiates Coverage on Darden Restaurants, according to a research note issued on May 26, 2016. The shares have been rated ‘Market Perform’ by the firm. On May 17, 2016, Piper Jaffray said it Upgrades its rating on Darden Restaurants. In the research note, the firm Raises the price-target to $67.00 per share. The shares have been rated ‘Overweight’ by the firm. On Apr 18, 2016, Citigroup said it Maintains its rating on Darden Restaurants. In the research note, the firm Raises the price-target to $73.00 per share. The shares have been rated ‘Buy’ by the firm. On Apr 16, 2016, Citigroup said it Maintains its rating on Darden Restaurants. In the research note, the firm Raises the price-target to $73.00 per share. The shares have been rated ‘Buy’ by the firm. On Apr 6, 2016, BTIG Research said it Maintains its rating on Darden Restaurants. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Buy’ by the firm.

Darden Restaurants (DRI) shares turned negative on Tuesdays trading session with the shares closing down -1.51 points or -2.40% at a volume of 38,75,375. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $62.94. The peak price level was also seen at $62.94 while the days lowest was $61.38. Finally the shares closed at $61.49. The 52-week high of the shares is $68.68 while the 52-week low is $53.38. According to the latest information available, the market cap of the company is $7,792 M.

Several Insider Transactions has been reported to the SEC. On Apr 20, 2016, Alan N Stillman (director) sold 2,000 shares at $65.30 per share price.Also, On Mar 14, 2016, Jeffrey C Smith (director) sold 370,566 shares at $67.69 per share price.On Dec 23, 2015, David C George (President, Olive Garden) sold 40,008 shares at $63.78 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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