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Darden Restaurants (DRI) Surges 3.7%: Is This an Indication of Further Gains?
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Darden Restaurants (DRI - Free Report) shares rallied 3.7% in the last trading session to close at $155.15. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.2% gain over the past four weeks.
Darden’s stock rally is driven by optimism surrounding the earlier-than-expected return of its popular Never Ending Pasta (NEP) promotion. The company plans to roll it out on August 26 for all customers. The launch allows the promotion to span 12 weeks in fiscal Q2 2025, compared with eight weeks in fiscal Q2 2024. The strategy aims to help Darden stay competitive in a heavily promotional market while maintaining a focus on profitable growth.
This owner of Olive Garden and other chain restaurants is expected to post quarterly earnings of $1.84 per share in its upcoming report, which represents a year-over-year change of +3.4%. Revenues are expected to be $2.81 billion, up 3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Darden Restaurants, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on DRI going forward to see if this recent jump can turn into more strength down the road.
Darden Restaurants is a member of the Zacks Retail - Restaurants industry. One other stock in the same industry, Domino's Pizza (DPZ - Free Report) , finished the last trading session 1.3% lower at $427.06. DPZ has returned 4.2% over the past month.
For Domino's Pizza, the consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $3.64. This represents a change of -12.9% from what the company reported a year ago. Domino's Pizza currently has a Zacks Rank of #3 (Hold).
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Darden Restaurants (DRI) Surges 3.7%: Is This an Indication of Further Gains?
Darden Restaurants (DRI - Free Report) shares rallied 3.7% in the last trading session to close at $155.15. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.2% gain over the past four weeks.
Darden’s stock rally is driven by optimism surrounding the earlier-than-expected return of its popular Never Ending Pasta (NEP) promotion. The company plans to roll it out on August 26 for all customers. The launch allows the promotion to span 12 weeks in fiscal Q2 2025, compared with eight weeks in fiscal Q2 2024. The strategy aims to help Darden stay competitive in a heavily promotional market while maintaining a focus on profitable growth.
This owner of Olive Garden and other chain restaurants is expected to post quarterly earnings of $1.84 per share in its upcoming report, which represents a year-over-year change of +3.4%. Revenues are expected to be $2.81 billion, up 3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Darden Restaurants, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on DRI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Darden Restaurants is a member of the Zacks Retail - Restaurants industry. One other stock in the same industry, Domino's Pizza (DPZ - Free Report) , finished the last trading session 1.3% lower at $427.06. DPZ has returned 4.2% over the past month.
For Domino's Pizza, the consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $3.64. This represents a change of -12.9% from what the company reported a year ago. Domino's Pizza currently has a Zacks Rank of #3 (Hold).