Jefferies Lowers Numbers on Darden Restaurants (DRI) on Weak Q3

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Jefferies lowered estimates and its price target on Darden Restaurants (NYSE: DRI) from $47 to $44 following Q3 number that are below the consensus as SSS slowed.

"Although we believe most of the deceleration is due to the impact of tax changes/refund delays & weather, we have very little visibility on a NT operating turnaround. We lowered EPS & PT, and maintain our Hold rating as we believe the 4% dividend yield is sustainable & provides support at these levels."

The firm cut Q3 EPS from $1.16 to $1.01, FY13 from $3.35 to $3.10 and FY14 from $3.75 to $3.40.

For an analyst ratings summary and ratings history on Darden Restaurants click here. For more ratings news on Darden Restaurants click here.

Shares of Darden Restaurants closed at $46.23 yesterday, with a 52 week range of $44.11-$57.93.

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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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Jefferies & Co, Dividend

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