On June 16, 2023, Christopher Carril, an analyst at RBC Capital, issued an optimistic outlook for Darden Restaurants (NYSE:DRI). Carril rated the company as Outperform and raised the price target from $165 to $185. This assessment falls in line with the average investment rating for Darden Restaurants among analysts polled by Capital IQ. Most analysts also rate the company as Outperform, with price targets ranging from $122 to $180. The median target price is $154.62, which reflects a substantial 96.04% difference from the last price of $148.50. Darden Restaurants is closely monitored by several analysts, whose opinions, estimates, and forecasts can be found on the company’s investor relations website. In September 2021, an analyst raised Darden Restaurants’ price target to $168 from $160.
DRI Stock Shows Positive Performance with Strong Earnings and Revenue Growth
DRI, the stock of Darden Restaurants, Inc., saw a positive performance on June 16, 2023, with an opening price of 167.37, up from the previous day’s closing price of 166.86. The day’s range was between 166.72 and 168.96, with a volume of 24, much lower than the average volume of 1,314,690 for the past three months. The market cap for DRI is currently $19.6 billion.
DRI has shown strong earnings growth in the past year, with a growth rate of +54.49%. Revenue growth for the past year was +33.82%, indicating a strong performance in the industry.
The P/E ratio for DRI is 21.8, and the price/sales ratio is 1.69. However, the positive earnings and revenue growth rates suggest that the stock may still have room for growth.
DRI is a part of the Consumer Services sector and the Restaurants industry. The next reporting date for DRI is June 22, 2023, with an EPS forecast of $2.54. The annual revenue for the past year was $9.6 billion, and the annual profit was $952.8 million, with a net profit margin of 9.91%.
Overall, DRI’s positive performance on June 16, 2023, indicates a strong potential for growth in the future. However, investors should keep an eye on the price/book ratio and monitor industry trends to make informed investment decisions.
Darden Restaurants Incs Positive Forecast and Consistent Financial Performance: A Promising Investment Opportunity for Investors?
On June 16, 2023, Darden Restaurants Inc (DRI) saw a slight increase in its stock performance, thanks to positive forecasts from 25 analysts. These analysts offered 12-month price forecasts for DRI, with a median target of $170.00, a high estimate of $188.00, and a low estimate of $140.00. The current consensus among 29 polled investment analysts is to buy stock in Darden Restaurants Inc, with this rating holding steady since May 2023. Darden Restaurants Inc operates a portfolio of restaurant brands, including Olive Garden, LongHorn Steakhouse, and Cheddar’s Scratch Kitchen. The company’s current quarter earnings per share are $2.54, with sales of $2.8 billion. The reporting date for this quarter is June 22, 2023. Investors may be drawn to Darden Restaurants Inc due to its strong brand portfolio and consistent financial performance. However, it is important to note that the restaurant industry is highly competitive and subject to external factors such as economic downturns and changing consumer preferences. Overall, Darden Restaurants Inc’s positive forecast and steady buy rating from investment analysts suggest that the company is well-positioned for future growth and success. Investors may want to keep an eye on the company’s upcoming earnings report on June 22, 2023.
The post Analyst Issues Optimistic Outlook for Darden Restaurants with Raised Price Target appeared first on Best Stocks.
