These Analysts Revise Their Forecasts On Darden Restaurants After Q4 Results
Portfolio Pulse from Avi Kapoor
Darden Restaurants, Inc. (NYSE:DRI) reported better-than-expected Q4 earnings and increased its quarterly dividend. Sales grew 6.8% Y/Y to $2.957 billion, missing estimates. Adjusted EPS of $2.65 topped consensus. The company declared a quarterly cash dividend of $1.40 per share. Analysts revised their price targets: Stifel cut to $180, B of A Securities raised to $185, and Stephens & Co. maintained at $165.
June 21, 2024 | 1:05 pm
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Darden Restaurants reported better-than-expected Q4 earnings and increased its quarterly dividend. Sales grew 6.8% Y/Y to $2.957 billion, missing estimates. Adjusted EPS of $2.65 topped consensus. The company declared a quarterly cash dividend of $1.40 per share. Analysts revised their price targets: Stifel cut to $180, B of A Securities raised to $185, and Stephens & Co. maintained at $165.
Darden's better-than-expected EPS and increased dividend are positive signals for investors, likely boosting short-term stock price. However, the mixed analyst price target revisions may temper some of the enthusiasm.
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