Published: Thu, March 30, 2017
Markets | By Erika Turner

Darden Restaurants to buy Cheddar's Scratch Kitchen for $780 mln

Darden Restaurants to buy Cheddar's Scratch Kitchen for $780 mln

Thus the company showed an Earnings Surprise of 3.9 Percent. The restaurant operator reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.28 by $0.04. Quantbot Tech Ltd Partnership invested 0.46% in Darden Restaurants, Inc. The research firm Upgrade the stock to Buy. Sell-side analysts have also provided a consensus recommendation of 2.50 on company shares.

Among 18 analysts covering Darden Restaurants (NYSE:DRI), 8 have Buy rating, 2 Sell and 8 Hold. Buy rating has been given by 1 analysts to the company stock whereas 5 analysts given UNDERPERFORM rating to stock and 16 analysts given HOLD rating.

Current levels places Darden Restaurants, Inc.

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On 12/18/2015 Darden Restaurants announced a quarterly dividend of $0.50 with an ex dividend date of which will be payable on 2/16/2016.

Darden Restaurants, Inc. (NYSE:DRI), stock is trading $78.82 above the 52-week high and has displayed a high EPS growth of -4.00% in last 5 years.

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Darden Restaurants has 52 week low of $59.50 and a 52 week high of $82.20 with a PE ratio of 24.02 and has a market capitalization of $0. The firm has a 50-day moving average of $75.65 and a 200 day moving average of $70.81. The company has market cap of $206.08 billion.

If you look at the company's income statement over the past years, you will see that the company is constantly posting gross profit: In 2014, DRI earned gross profit of 1.3 Billion, in 2015 1.43 Billion gross profit, while in 2016 Darden Restaurants, Inc. Darden Restaurants had a net margin of 6.22% and a return on equity of 25.92%. During the same quarter past year, the firm posted $1.21 EPS. The business's revenue was up 1.7% on a year-over-year basis.

Investor Conference CallThe Company will host a conference call and slide presentation on Tuesday, March 28 at 8:30 am ET to review its recent financial performance.

Darden Restaurants gained the most in more than three years after topping earnings estimates and agreeing to buy Cheddar's Scratch Kitchen, giving the owner of Olive Garden a fresh source of growth. Putnam Investments LLC purchased a new stake in shares of Darden Restaurants during the fourth quarter valued at $1,791,000. Global X Management Co.

DRI stock surged 9.3% throughout the course of the day.

Since October 10, 2016, it had 0 buys, and 1 sale for $2.31 million activity. The rating was initiated by Argus Research with "Buy" on Thursday, April 21. Stifel Nicolaus maintained Darden Restaurants, Inc. Maxim Group Downgrades Darden Restaurants, Inc. Darden's Olive Garden has been outpacing some of its other chains, including LongHorn Steakhouse and Capital Grille.

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