Jefferies Remains Sidelined on Darden Restaurants (DRI) Following 3Q Report
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BTIG Boosts PT on Dardent (DRI) to $75; Strong Olive Garden Trends Bolster Results
April 6, 2016 7:28 AM EDTBTIG is raising its price target on Buy-rated Darden Restaurants (NYSE: DRI) from $70 to $75 after Darden posted Q3 results early Tuesday.
Analyst Peter Saleh commented, This quarters results reinforce our positive thesis centered on improving fundamentals at Olive Garden and greater margin... More
Starboard's Jeff Smith resigns as Darden chairman
April 5, 2016 8:10 AM EDTBy Yashaswini Swamynathan
(Reuters) - Olive Garden owner Darden Restaurants Inc's (NYSE: DRI) chairman, Jeffrey Smith, head of Starboard Value LP, has resigned 18 months after engineering the ouster of the company's board.
Darden's shares, which have risen nearly 60 percent since Smith took over as chairman in October 2014, fell 3.4 percent at $65.03 in morning trading on Tuesday.
"I am able to move on to other projects at this time because of the outstanding chemistry and capabilities of both the board and management," said Smith, whose investment firm is Darden's third-biggest shareholder.
... MoreDarden Restaurants (DRI) Chairman Smith Resigns
April 5, 2016 7:02 AM EDTDarden Restaurants, Inc. (NYSE: DRI) announced that Jeffrey (Jeff) C. Smith has resigned from its Board of Directors effective April 4, 2016. Mr. Smith had served on the Board of Directors and as the Company's Chairman of the Board since October 2014. With the announcement of Mr. Smith's departure, the Board unanimously elected Charles (Chuck) M. Sonsteby, a current independent director, as Chairman. The Company now has ten directors.
"It is with mixed emotion that I leave the Board of Directors," said Smith. "I will thoroughly miss working with the capable and talented people... More
Darden Restaurants (DRI) Tops Q3 EPS by 2c
April 5, 2016 7:02 AM EDTDarden Restaurants (NYSE: DRI) reported Q3 EPS of $1.21, $0.02 better than the analyst estimate of $1.19. Revenue for the quarter came in at $1.85 billion versus the consensus estimate of $1.84 billion.
Same-restaurant sales increased 6.2% for the fiscal quarter.
"Our strong same-restaurant sales reinforce that... More
Trading Radar for 4/5: Darden (DRI), Walgreens Boots Alliance (WBA), Greenbrier (GBX), Schulman (SHLM) Report
April 4, 2016 3:28 PM EDTThe Trading Radar highlights key earnings and economic announcements for the next trading session:
Before Markets Open:
Economics:
8:30am EDT
Earnings:
Darden Restaurants (NYSE: DRI) - consensus EPS $1.19... More
Darden Restaurants (DRI) Performance to Remain Strong in Q4 - Detwiler Fenton
April 4, 2016 8:57 AM EDTAnalyst at Detwiler Fenton issued positive commentary on Darden Restaurants (NYSE: DRI).
"We believe Darden's (DRI) performance across banners will remain strong in Q4 as traffic remains resilient while cost-cutting initiatives help the bottom line," the analyst said.
... More