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Darden Restaurants, Inc. will release earnings results for its fiscal 2025 first quarter, before the opening bell on Thursday.
Analysts expect the Orlando, Florida-based company to report quarterly earnings at $1.84 per share, up from $1.78 per share in the year-ago period. Darden Restaurants projects to report quarterly revenue of $2.8 billion for the quarter. according to data from Benzinga Pro.
On July 17, Chuy’s Holdings Inc and Darden Restaurants jointly announced that Darden will acquire Chuy’s Holdings.
With the recent buzz around Darden Restaurants, some investors may be eyeing potential gains from the company's dividends. As of now, Darden Restaurants has a dividend yield of 3.47%, which is a quarterly dividend amount of $1.40 a share ($5.60 a year).
To figure out how to earn $500 monthly from Darden Restaurants, we start with the yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by Darden's $5.60 dividend: $6,000 / $5.60 = 1,071 shares
So, an investor would need to own approximately $172,999 worth of Darden Restaurants, or 1,071 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $5.60 = 214 shares, or $34,567 to generate a monthly dividend income of $100.
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
DRI Price Action: Shares of Darden Restaurants rose 0.9% to close at $161.53 on Tuesday.
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Image created using artificial intelligence via Midjourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Darden Restaurants, Inc. DRI is scheduled to report first-quarter fiscal 2025 results on Sept. 19, before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 1.15%.
How Are Estimates Placed?
The Zacks Consensus Estimate for the fiscal first-quarter earnings per share (EPS) is pegged at $1.82, indicating growth of 2.3% from $1.78 reported in the year-ago quarter.
For revenues, the consensus mark is pegged at $2.8 billion, suggesting a 2.5% increase from the year-ago quarter’s figure.
Darden Restaurants, Inc. Price and EPS Surprise
Darden Restaurants, Inc. price-eps-surprise | Darden Restaurants, Inc. Quote
Factors at Play
Darden’s fiscal first-quarter performance is likely to have benefited from new restaurant openings, the integration of Ruth's Chris Steak House and menu innovation. By focusing on core menu items and introducing new culinary options, the company has enhanced its appeal to a broad customer base. This focus, combined with more efficient kitchen operations, is likely to have contributed to higher guest satisfaction and sustained sales growth in the first quarter fiscal 2025.
In fiscal 2024, the company opened 53 new restaurants across various states and completed the integration of Ruth’s Chris Steak House ahead of schedule. The acquisition has already delivered accretive benefits, contributing 10 cents to EPS in the fourth quarter of fiscal 2024. With the fine dining brand's strong market position, the momentum is expected to continue into the first quarter of fiscal 2025, providing a boost to sales and profitability.
Strong contributions from core casual dining brands, including Olive Garden and LongHorn Steakhouse, are likely to have aided DRI’s top line in the fiscal first quarter. Our model predicts revenues from Olive Garden and LongHorn Steakhouse to rise 2.3% and 3.7% year over year to $1.3 billion and $0.7 billion, respectively.
However, the weakening consumer backdrop, particularly among households below the median income, is likely to have negatively impacted the company’s performance in the fiscal first quarter. Darden is likely to have faced softer demand. The company noted that it remains cautious with pricing to stay competitive, which could put pressure on its same-restaurant sales growth compared to prior quarters.
Elevated expenses concerning food, beverage and labor costs are likely to have dented margins in the to-be-reported quarter. Our model predicts fiscal first-quarter food and beverage, and labor costs to rise 3.5% and 3.9% year over year to $881 million and $909 million, respectively.
What Our Model Says
Our proven model predicts an earnings beat for Darden this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Darden has an Earnings ESP of +0.36%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat on Earnings
Here are some other stocks worth considering from the Zacks Retail-Wholesale sector, as our model shows that these have the right combination of elements to beat on earnings this season:
Domino's Pizza, Inc. DPZ currently has an Earnings ESP of +3.94% and a Zacks Rank #3.
Shares of Domino's have increased 6.4% in the past year. DPZ’s earnings beat the consensus mark in each of the last four quarters. The company has a trailing four-quarter earnings surprise of 11.2%, on average.
Papa John's International, Inc. PZZA has an Earnings ESP of +2.11% and a Zacks Rank #3.
Shares of Papa John's have declined 32.9% in the past year. PZZA’s earnings beat the consensus mark in three of the trailing four quarters and missed on one occasion. The company has a trailing four-quarter earnings surprise of 13.6%, on average.
Starbucks Corporation SBUX currently has an Earnings ESP of +2.61% and a Zacks Rank #3.
Shares of Starbucks have declined 0.5% in the past year. SBUX’s earnings beat the consensus mark in two of the trailing four quarters and missed twice. The company has a trailing four-quarter negative earnings surprise of 1.7%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Investment Research
Consumer stocks were mixed late Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) easing 0.1%.
In corporate news, Amazon.com will return to its pre-COVID work environment with workers expected to be in the office every day except for extenuating circumstances, effective Jan. 2, Chief Executive Officer Andy Jassy said. Amazon shares were shedding 0.7%.
Darden Restaurants may miss Wall Street's estimates for fiscal Q1 when it reports results on Thursday but may reiterate its full-year outlook against easing comparisons, Oppenheimer said Monday. Darden shares were down 0.2%.
Gaucho shares jumped 13% after the company said it expects to save $1.6 million in the next 12 months through a restructuring and cost-cutting strategy.
Hasbro is set up for a strong 2025 on signs of "very strong momentum" in recent "Magic: The Gathering" set releases and bullish prospects in the toy business, BofA Securities said in a report. BofA raised the company's price target to $90 from $85 and reiterated its buy rating on the stock. Hasbro shares rose 1.6%.
General Mills, Inc. GIS is likely to register a top and bottom-line decline when it reports first-quarter fiscal 2025 earnings on Sep. 18. The Zacks Consensus Estimate for revenues is pegged at $4.78 billion, which suggests a decrease of 2.5% from the prior-year quarter’s reported figure.
The consensus mark for quarterly earnings has remained unchanged in the past 30 days at $1.05 per share. This indicates a decline of 3.7% from the year-ago quarter’s reported figure. GIS has a trailing four-quarter earnings surprise of nearly 6%, on average.
General Mills, Inc. Price, Consensus and EPS Surprise
General Mills, Inc. price-consensus-eps-surprise-chart | General Mills, Inc. Quote
Things to Note About GIS’ Upcoming Release
General Mills has been operating amid a tough operating landscape. On its last earnings call, the company anticipated the operating environment to continue evolving in fiscal 2025. It expected that the macroeconomic uncertainty will lead consumers to continue seeking value, influencing both the products they purchase and the channels they shop through.
General Mills faces ongoing margin pressure from rising production costs. On its fourth-quarter earnings call, General Mills stated that the rate of inflation for goods and services in the United States and many other countries remains above historical levels, even though it has moderated from recent highs. Inflation is expected to impact the company's input costs in fiscal 2025. The company expects input cost inflation to be 3-4% of the cost of goods sold in fiscal 2025, with labor being the primary driver affecting sourcing, manufacturing and logistics expenses.
On its last earnings call, General Mills stated it expects first-quarter results to fall short of the full-year growth expectations. This is likely to stem from a considerable increase in brand-building investment, as well as tough comparisons with strong organic net sales growth and adjusted gross margin performance in the year-ago period. Our model suggests a 10-bps contraction in the adjusted gross margin to 35.3% for the first quarter. We expect the adjusted operating margin to shrink 70 bps to 17.6% in the first quarter.
However, General Mills has been benefiting from the strength of its brands and a focus on its Accelerate strategy. The strategy is based on four pillars that include building brands, undertaking constant innovation, leveraging scale and standing for good. GIS continues to focus on core markets, global platforms and local gem brands with growth prospects. The emphasis on innovation and brand marketing has been helping the company strengthen its product portfolio. General Mills has also been benefiting from its measures to boost efficiency, including its Holistic Margin Management strategy.
What the Zacks Model Unveils for GIS
Our proven model predicts an earnings beat for General Mills this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here.
General Mills carries a Zacks Rank #3 and has an Earnings ESP of +1.92%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks With the Favorable Combination
Here are some other companies worth considering, as our model shows that these also have the correct combination to beat on earnings this time.
Darden Restaurants, Inc. DRI has an Earnings ESP of +0.04% and a Zacks Rank of 3 at present. DRI is expected to register top and bottom-line growth in its upcoming release. The consensus estimate for quarterly revenues is pegged at $2.8 billion, which calls for 2.6% growth from the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Darden Restaurants’ quarterly earnings has declined by a penny in the past seven days to $1.83, which indicates a 2.8% rise from the figure reported in the year-ago quarter. DRI delivered a trailing four-quarter average earnings surprise of 2.8%.
Costco Wholesale Corporation COST currently has an Earnings ESP of +0.62% and a Zacks Rank of 3. The company is expected to register top and bottom-line growth when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COST’s quarterly revenues is pegged at $79.82 billion, which suggests growth of 1.1% from the year-ago quarter’s reported figure.
The consensus estimate for Costco’s earnings has gone up by a penny in the past seven days to $5.04. The consensus mark for earnings indicates growth of 3.7% from the year-ago quarter’s reported figure. COST delivered an earnings beat of 2.3%, on average, in the trailing four quarters.
Domino's Pizza, Inc. DPZ currently has an Earnings ESP of +3.94% and a Zacks Rank of 3. The company is likely to register top-line growth in its upcoming earnings release. The consensus mark for DPZ’s quarterly revenues is pegged at $1.1 billion, which indicates a 7.4% rise from the figure reported in the prior-year quarter.
The consensus mark for Domino's Pizza’s quarterly earnings has moved up by 2 cents in the past 30 days to $3.66, which implies a decline of 12.4% from the year-ago quarter’s actual. DPZ delivered an earnings beat of 11.2%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Investment Research
Darden Restaurants, Inc. will release earnings results for its fiscal 2025 first quarter, before the opening bell on Thursday, Sept. 19.
Analysts expect the Orlando, Florida-based company to report quarterly earnings at $1.84 per share, up from $1.78 per share in the year-ago period. Darden Restaurants projects to report quarterly revenue of $2.8 billion for the quarter. according to data from Benzinga Pro.
On July 17, Chuy's Holdings Inc and Darden Restaurants jointly announced that Darden will acquire Chuy's Holdings.
Darden Restaurants shares rose 1.1% to close at $160.25 on Friday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.
Considering buying DRI stock? Here’s what analysts think:
Read This Next:
Latest Ratings for DRI
Date | Firm | Action | From | To |
---|---|---|---|---|
Dec 2021 | Stifel | Upgrades | Hold | Buy |
Dec 2021 | Stephens & Co. | Maintains | Overweight | |
Dec 2021 | MKM Partners | Maintains | Buy |
View More Analyst Ratings for DRI
View the Latest Analyst Ratings
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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