Stocks Analysis by ValueWalk (Dave Kovaleski) covering: Darden Restaurants Inc. Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
) stock on Thursday, despite the fact that the restaurant stock had a subpar quarter and missed earnings and revenue estimates.
Olive Garden, Darden’s largest chain with 923 restaurants, saw same-store sales drop 2.9% and sales fall 1.5% year over year. LongHorn Steakhouse, its second largest brand with 577 locations, saw same store sales increase 3.7% and sales climb 7%. But Darden also got a lift due to its outlook for the rest of the year and increased traffic this quarter at its restaurants.
That does not include any impact from the acquisition of Chuy’s and its chain of 101 Tex-Mex restaurants in 15 states, which is expected to be neutral to Darden’s EPS in fiscal 2025. Analysts are not particularly bullish on Darden stock with a median price target of $171 per share, which suggests little growth in the stock price, but that may change post earnings.
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