Wall Street analysts forecast that Darden Restaurants (DRI) will report quarterly earnings of $2.05 per share in its upcoming release, pointing to a year-over-year increase of 11.4%. It is anticipated that revenues will amount to $2.87 billion, exhibiting an increase of 5.3% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Darden Restaurants metrics that are commonly monitored and projected by Wall Street analysts.
It is projected by analysts that the 'Sales- Olive Garden' will reach $1.30 billion. The estimate indicates a year-over-year change of +3.6%.
The consensus estimate for 'Sales- Other Business' stands at $557.99 million. The estimate points to a change of +8.4% from the year-ago quarter.
Analysts forecast 'Sales- Fine Dining' to reach $335.38 million. The estimate indicates a year-over-year change of +5.5%.
The average prediction of analysts places 'Sales- LongHorn Steakhouse' at $689.13 million. The estimate suggests a change of +7.2% year over year.
The combined assessment of analysts suggests that 'Same-restaurant sales - LongHorn Steakhouse - YoY change' will likely reach 4.3%. The estimate is in contrast to the year-ago figure of 4.9%.
Analysts expect 'Same-restaurant sales - Olive Garden - YoY change' to come in at 1.7%. The estimate is in contrast to the year-ago figure of 4.1%.
The collective assessment of analysts points to an estimated 'Company-owned restaurants - Total' of 2,089. The estimate compares to the year-ago value of 2,010.
Based on the collective assessment of analysts, 'Company-owned restaurants - Olive Garden' should arrive at 926. The estimate compares to the year-ago value of 912.
Analysts' assessment points toward 'Company-owned restaurants - LongHorn Steakhouse' reaching 580. Compared to the current estimate, the company reported 566 in the same quarter of the previous year.
According to the collective judgment of analysts, 'Company-owned restaurants - Bahama Breeze' should come in at 44. The estimate is in contrast to the year-ago figure of 42.
Analysts predict that the 'Company-owned restaurants - Seasons 52' will reach 44. Compared to the present estimate, the company reported 44 in the same quarter last year.
The consensus among analysts is that 'Company-owned restaurants - Eddie V's' will reach 29. Compared to the current estimate, the company reported 31 in the same quarter of the previous year.
View all Key Company Metrics for Darden Restaurants here>>>
Shares of Darden Restaurants have demonstrated returns of -0.1% over the past month compared to the Zacks S&P 500 composite's +1.2% change. With a Zacks Rank #3 (Hold), DRI is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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