These Analysts Revise Their Forecasts On Darden Restaurants After Q1 Results

Core Insights - Darden Restaurants, Inc. reported weaker-than-expected first-quarter financial results, with adjusted earnings per share of $1.75, missing the analyst consensus estimate of $1.83, and quarterly sales of $2.76 billion, below the expected $2.80 billion [1][2] Financial Performance - The company’s adjusted earnings per share for the first quarter were $1.75, which was lower than the expected $1.83 [1] - Quarterly sales amounted to $2.76 billion, missing the street view of $2.80 billion [1] Management Commentary - Darden's President & CEO Rick Cardenas expressed confidence in the strength of the business despite the first-quarter shortfall [2] Dividend Announcement - Darden's board approved a quarterly cash dividend of $1.40 per share, which will be paid on November 1 to shareholders recorded as of the close of business on October 10 [2] Stock Performance - Following the earnings announcement, Darden's shares increased by 8.3%, closing at $172.27 [2] Analyst Reactions - TD Cowen analyst Andrew Charles maintained a Hold rating and raised the price target from $150 to $165 [4] - Bernstein analyst Danilo Gargiulo downgraded the stock from Outperform to Market Perform, reducing the price target from $190 to $180 [4] - Stephens & Co. analyst Jim Salera maintained an Equal-Weight rating and raised the price target from $159 to $164 [4] - Wedbush analyst Nick Setyan maintained an Outperform rating and increased the price target from $170 to $200 [4] - Evercore ISI Group analyst David Palmer upgraded Darden from In-Line to Outperform, raising the price target from $165 to $205 [4]