04-06-2017: Darden Restaurants Inc. (DRI): Benefits from New Federal Administration's Policies

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Recommendation

Darden Restaurants Inc.

Darden Restaurants Inc. (DRI) is one of the largest owners of full-service restaurants in the U.S. The corporation started out as "Red Lobster," which became one of the nation's largest seafood and casual dining restaurant chains. Gradually, it expanded and acquired six other large chains, the most recognizable and largest of which was "Olive Garden."

Red Lobster began to "flounder" seeing Americans turn away from that sort of dining experience, and in 2014 sold it to Golden Gate Capital for $2.1 billion in cash. However, this was the chain that got the company to where it is today, and the sale was over the objection of activist investors, most notably Barrington Capital and Starboard Value LP. Efforts by Darden to reduce costs were apparently applauded by the stock market if subsequent share price performance was any indication.

The company has a good website explaining its various iconic brands as well as a detailed CEO Letter to Shareholders. Also, as far as we measure using the "Zenith Index," this company has a strong balance sheet and fundamentals. Institutions are net acquirers. Analysts and researchers are generally favorable.

The company is still growing and on a strong acquisition path, the latest of which is obtaining "Cheddar's Scratch Kitchen Restaurants." Cheddar's had 165 locations in 25 states which each restaurant bringing in about $4.4 million annually, the purchase price for which was $780 million.

Darden seems to generally allow acquisitions to retain both identity and managements. It provides financial and other "support" to these.

The recent election of a new federal administration and the abolishment of many regulations is deemed favorable to the restaurant industry regarding requirements to provide various types of employee benefits including health insurance and minimum wages.

We tend to regard this stock as a "buy and hold" rather than a trading stock. Previous "macro economic environment" traffic weakening appears to be ameliorating. Adverse impact of the Affordable Care Act appears to be threatened by change. And the company has no exposure to international markets. This could be considered either a positive or a negative, depending upon how one evaluates "cut-throat competition" at home.

Latest earnings show positive growth and are matched by rosy projections or guidance for the near future from the corporation itself. By most measures, the corporation seems to have strong upside potential versus relatively low risks. 



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Darden Restaurants, Inc. (DRI)                            Exchange: NYSE
1000 Darden Center Drive
Orlando, FL 32837                Sector: Services
United States                    Industry:Restaurants

Darden Restaurants, Inc., through its subsidiaries, owns and operates
full-service restaurants in the United States and Canada. As of May 29,
2016, it owned and operated 1,536 restaurants, which included 843 Olive
Garden, 481 LongHorn Steakhouse, 54 The Capital Grille, 65 Yard House,
40 Seasons 52, 37 Bahama Breeze, and 16 Eddie V's restaurants. The
company was founded in 1968 and is headquartered in Orlando, Florida.

Last Trade:  82.83                           52-Week Range:  84.13 -  59.50
Employees: 150,000                           Avg.Volume:   1,634,570 Shares

Corporate Governance:
Pillar scores are Audit: 1; Board: 1; Shareholder Rights: 1; Compensation: 1.
         (A lower number means less governance risk.)

EPS:  3.41    Dividend Amount: $ 2.24          Yield:  2.68%
             Ex-Dividend Date: Jan 6, 2017     Payout Ratio:  61.63

Key Statistics:

    Trailing P/E:  24.51              Forward P/E (est.):  19.23
                                           Target Price:  83.41

Qrtly Stock Price Growth (yoy):  23.00%               Beta:  -0.15
Qrtly S&P Index   Growth (yoy):   1.70%        Short Ratio:   9.06%
    Qrtly Revenue Growth (yoy):  14.61%         Shares Out:  124170000
   Qrtly Earnings Growth (yoy):   0.00%

          Book Value:  14.93                    Debt/Equity:  22.34%
    Price/Book Value:   5.61        Operating Profit Margin:   0.00%
         Price/Sales:   1.48                  Profit Margin:   7.04%
         Market Cap:  10,390,000,000       Return on Equity:  25.57%
    Enterprise Value:  10,430,000,000      Return on Assets:   9.34%

    Operating Cash Flow:    903,400,000
         Free Cash Flow:    499,850,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             05/29/2016  05/31/2015   5/25/2014

  Total Revenue                              6,933,500   6,764,000   6,285,600
  Cost of Revenue                            5,392,400   5,341,500   4,990,500
  Gross Profit                               1,541,100   1,422,500   1,295,100

Operating Expenses:
  Research & Development                             0           0           0
  Selling, General & Administrative            622,900     673,500     665,400
  Non-Recurring Expenses                         5,800      62,100      16,400
  Other Operating Expenses                     290,200     319,300     304,400
  Total Operating Expenses                           0           0           0

Operating Income or Loss                       622,200     367,600     308,900

Income from Continuing Operations:
  Total Other Income/Expenses Net                    0           0           0
  Earnings Before Interest & Taxes             449,700     175,300     174,600
  Interest Expense                                   0           0           0
  Income Before Taxes                          449,700     175,300     174,600
  Income Tax Expense                            90,000     -21,100      -8,600
  Minority Interest                                  0           0           0

Net Income from Continuing Op.s                359,700     196,400     183,200

Non-recurring Events:
  Discontinued Operations                       15,300     513,100     103,000
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                   375,000     709,500     286,200
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares              375,000     709,500     286,200




Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         05/29/2016    05/31/2015     5/25/2014

  Net Income                               359,700       196,400       183,200

Operating Activities:
  Depreciation                             293,800       327,900       318,200
  Adjustments to Net Income                124,400      -250,000       -76,900
  Changes in Accounts Recv'bls             -14,000        -7,800         1,500
  Changes in Liabilities                    43,600        14,900        48,200
  Changes in Investories                    11,800       -64,500        25,600
  Changes in other Oper'g Acts              23,200     1,680,700       118,600

Total Cash Flow f Operations               820,400       874,300       555,400

Investing Activities:
  Capital Exenditures                     -228,300      -296,500      -414,800
  Investments                                1,800         9,700         5,700
  Other Cash Flows fr Investing            301,900        51,700       -27,200

Total Cash Flows from Investing             75,400      -235,100      -436,300

Financing Activities:
  Dividends Paid                          -268,200      -278,900      -288,300
  Sale of Purchase of Stock                -85,500      -342,600        57,600
  Net Borrowings                        -1,099,600    -1,181,400        42,000
  Other Cash Flows fr Financing            315,000       315,000       -27,200

Total Cash Flows from Financing         -1,120,800    -1,784,500      -179,200

  Effect of Exchange Rate Chg                    0             0             0

Change in Cash & Cash Equiv.              -261,100       437,600        10,100




Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          05/29/2016    05/31/2015     5/25/2014
Current Assets:
  Cash & Cash Equivalents                   274,800       535,900        98,300
  Short Term Investments                          0             0             0
  Net Receivables                           227,300       235,400       207,800
  Inventory                                 175,400       163,900       196,800
  Other Current Assets                      142,800       121,200     1,472,900
  Total Current Assets                      820,300     1,056,400     1,975,800

  Long-Term Investments                           0             0             0
  Property, Plant & Equipt                2,041,600     3,215,800     3,381,000
  Goodwill                                  872,300       872,400       872,500
  Intangible Assets                         574,600       574,600       574,600
  Accumulated Amortization                        0             0             0
  Other Assets                              273,800       275,500       278,800
  Deferred LT Asset Charges                       0             0             0

Total Assets                              4,582,600     5,994,700     7,082,700

Current Liabilities:
  Accounts Payable                          426,100       404,000       423,300
  Current Portion LT Debt                         0        15,000       222,600
  Other Current Liabilities                 761,000       777,700       972,600
  Total Current Liabilities               1,187,100     1,196,700      1,618,500

  Long Term Debt                            426,100       404,000       423,300
  Other Liabilities                               0        15,000       222,600
  Deferred LT Liab. Charges                 761,000       777,700       972,600
  Minority Interest                               0             0             0
  Negative Goodwill                               0             0             0

Total Liabilities                         2,693,400     3,093,500     4,925,800

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                            1,502,600     1,405,900     1,302,200
  Retained Earnings                         547,500     1,026,000       995,800
  Treasury Stock                             -7,800        -7,800        -7,800
  Capital Surplus                                 0             0             0
  Other Stockhohlder Equity                 -90,300       -90,600      -133,300
  Total Stockholder Equity                1,952,000     2,333,500     2,156,900

Net Tangible Assets                         505,100       886,500       709,800




Darden Restaurants, Inc. (DRI)              [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            1.1424          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate:  0.0000          Forward P/E Ratio < 28?    1.4561
Price/Sales Ratio < 2.3?   1.5541          Inventory/Sales < 5%?      1.9765
Sales < $1 Billion?        0.1442          Operating Margin < 7.5%?   0.0000

Balance Sheet Tests:
Debt/Equity < 0.40?        1.7905          Long-Term Debt Service:    3.0000
LTD Being Reduced?         3.0000          Short-Term Debt Service:   3.0000
Current Ratio > 2?         0.3455          Working Capital >= 1.5?    2.1997
Leverage Ratio < 20%?      0.3729          Debt/Assets < 1?           3.0000
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    0.1909
Share Equity Increase:     1.9184          Market Cap.< 1.5 Billion?  0.1444
                                           Intangibles < 3% Assets?   0.0950
Income Tests:
Profit Margin < 7.5%?      0.9386          EPS Annual Growth > 10%?   0.1892
Dividend Yield > 2.0%?     0.7463          EPS 3-yr Growth > 15?      0.1145
Enterprise Value/Revenue   1.4985          EPS Growth Consistent?     0.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      3.0000
EPS Qrtly Growth > 10%?    0.0000          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%?  3.0000
Stock Performance Tests:
Volatility > 25%?          1.1710          % Held by Insiders < 5%?   0.5051
Beta > 1.25?              -0.1200          % Held by Institut. < 50?  0.6002
50 Da MA > 200 Da MA?      0.1912          % Held by Institut. > 30?  2.7767
52-Wk Change vs. S&P 500:  1.5743          Short Ratio > 5?           1.8120
Price/Book Value < 3?      0.5407          Short % of Float > 20?     0.4465
Return on Assets > 17%?    0.5494          Average Volume > 100,000?  3.0000

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  1.8073          Positive Free Cash Flow?   3.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  2.7173
                                           Cash Flow / Assets > 10%?  3.0000

DRI    Darden Restaurants, Inc.            Overall Zenith Index:      1.4587


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Financial Statements

DARDEN RESTAURANTS INC  (DRI)               INCOME STATEMENT

Fiscal year ends in May.                             2012-05         2013-05         2014-05         2015-05         2016-05             TTM           

Revenue                                        7,998,700,032   8,551,900,160   6,285,599,744   6,764,000,256   6,933,499,904   6,994,599,936
Cost of revenue                                6,163,200,000   6,661,000,192   4,990,499,840   5,341,499,904   5,392,399,872   5,462,000,128
Gross profit                                   1,835,500,032   1,890,899,968   1,295,100,032   1,422,499,968   1,541,100,032   1,532,600,064


Operating expenses
Sales, General and administrative                746,800,000     847,800,000     663,500,032     673,500,032     622,899,968     588,000,000
Other operating expenses                         349,100,000     394,800,000     304,400,000     381,400,000     296,000,000     260,500,000
Total operating expenses                       1,095,900,032   1,242,599,936     967,900,032   1,054,899,968     918,899,968     848,499,968

Operating income                                 739,600,000     648,300,032     327,200,000     367,600,000     622,200,000     684,099,968
Interest Expense                                 106,400,000     126,800,000               0     192,900,000     173,600,000               0
Other income (expense)                             4,800,000         900,000    -152,600,000         600,000       1,100,000    -112,200,000
Income before taxes                              638,000,000     522,400,000     174,600,000     175,300,000     449,700,000     571,900,032
Provision for income taxes                       161,500,000     109,800,000      -8,600,000     -21,100,000      90,000,000     132,500,000
Net income from continuing operations            476,500,000     412,600,000     183,200,000     196,400,000     359,700,000     439,400,000
Net income from discontinuing ops                 -1,000,000        -700,000     103,000,000     513,100,000      15,300,000      -4,300,000
Net income                                       475,500,000     411,900,000     286,200,000     709,500,032     375,000,000     435,100,000
Net income available to common shareholders      475,500,000     411,900,000     286,200,000     709,500,032     375,000,000     435,100,000

Earnings per share
Basic                                                   3.65            3.19            2.18            5.56            2.94            3.46 
Diluted                                                 3.57            3.13            2.15            5.47            2.90            3.41 

Weighted average shares outstanding
Basic                                            130,100,000     129,000,000     131,000,000     127,700,000     127,400,000     125,550,000
Diluted                                          133,200,000     131,600,000     133,200,000     129,700,000     129,300,000     127,350,000

____________________________________________________________________________________________________________________________________________


DARDEN RESTAURANTS INC  (DRI)               BALANCE SHEET

Fiscal year ends in May.                             2012-05         2013-05         2014-05         2015-05         2016-05             

Assets

Current assets

Cash

Total cash                                        70,500,000      88,200,000      98,300,000     535,900,000     274,800,000

Receivables                                       71,400,000      85,400,000      39,300,000      47,100,000      43,900,000
Inventories                                      404,100,000     356,900,000     196,800,000     163,900,000     175,400,000
Deferred income taxes                            124,500,000     144,600,000     124,000,000     157,400,000     163,300,000
Prepaid expenses                                  87,100,000      89,800,000      83,200,000      88,300,000     122,500,000
Other current assets                                       0               0   1,434,800,000      63,800,000      40,400,000
Total current assets                             757,600,000     764,899,968   1,976,400,000   1,056,400,000     820,300,032

Non-current assets

Property, plant and equipment
Gross property, plant and equipment            6,725,600,256   7,440,900,096   5,431,199,744   5,520,399,872   3,860,600,064
Accumulated Depreciation                      -2,774,299,904  -3,049,799,936  -2,050,200,064  -2,304,600,064  -1,819,000,064
Net property, plant and equipment              3,951,300,096   4,391,099,904   3,380,999,936   3,215,800,064   2,041,600,000

Equity and other investments                      33,000,000      22,300,000               0               0               0
Goodwill                                         538,600,000     908,300,032     872,499,968     872,400,000     872,300,032
Intangible assets                                533,100,000     663,800,000     574,600,000     574,600,000     574,600,000
Deferred income taxes                                      0      21,300,000               0               0               0
Other long-term assets                           130,600,000     165,200,000     296,200,000     275,500,000     273,800,000
Total non-current assets                       5,186,599,936   6,172,000,256   5,124,299,776   4,938,299,904   3,762,299,904

Total assets                                   5,944,200,192   6,936,900,096   7,100,700,160   5,994,699,776   4,582,600,192 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Short-term debt                                  612,600,000     164,500,000     222,600,000      15,000,000               0
Accounts payable                                 260,700,000     296,500,000     233,100,000     198,800,000     241,900,000
Taxes payable                                    121,000,000     158,400,000     134,900,000     128,000,000     107,800,000
Accrued liabilities                              264,800,000     212,900,000     193,000,000     186,800,000     176,000,000
Deferred revenues                                231,700,000     270,500,000     299,700,000     328,600,000     360,400,000
Other current liabilities                        283,300,000     313,600,000     535,200,000     339,500,000     301,000,000
Total current liabilities                      1,774,099,968   1,416,400,000   1,618,499,968   1,196,700,032   1,187,100,032

Non-current liabilities
Long-term debt                                 1,453,699,968   2,496,199,936   2,481,400,064   1,452,300,032     440,000,000
Capital leases                                    54,400,000      52,500,000      52,000,000               0               0
Deferred taxes liabilities                       312,900,000     356,400,000     286,100,000     341,800,000     255,200,000
Other long-term liabilities                      507,100,000     555,900,032     505,800,000     670,400,000     748,300,032
Total non-current liabilities                  2,328,100,096   3,460,999,936   3,325,299,968   2,464,499,968   1,443,500,032

Total liabilities                              4,102,200,064   4,877,400,064   4,943,799,808   3,661,199,872   2,630,599,936 

Stockholders' equity

Common stock                                               0               0   1,302,200,064               0               0
Other Equity                                               0               0               0      -4,000,000               0
Additional paid-in capital                     2,518,799,872   1,207,600,000               0               0   1,502,599,936
Retained earnings                              3,172,800,000     998,899,968     995,800,000   1,026,000,000     547,500,032
Treasury stock                                -3,695,800,064      -8,100,000      -7,800,000      -7,800,000      -7,800,000
Accumulated other comprehensive income          -153,800,000    -138,900,000    -133,300,000   1,319,299,968     -90,300,000
Total stockholders' equity                     1,842,000,000   2,059,500,032   2,156,900,096   2,333,499,904   1,952,000,000
Total liabilities and stockholders' equity     5,944,200,192   6,936,900,096   7,100,700,160   5,994,699,776   4,582,600,192

____________________________________________________________________________________________________________________________________________


DARDEN RESTAURANTS INC  (DRI)               Statement of CASH FLOW

Fiscal year ends in May. USD.                        2012-05         2013-05         2014-05         2015-05         2016-05             TTM           

Cash Flows From Operating Activities
Net income                                                 0     411,900,000     286,200,000     709,500,032     375,000,000     435,100,000
Depreciation & amortization                      349,100,000     394,800,000     304,400,000     319,300,000     290,200,000     268,400,000
Amortization of debt discount/premium and is       6,700,000      13,000,000      13,800,000       8,600,000       3,600,000       1,000,000
Investment/asset impairment charges                  500,000         800,000      18,300,000      62,100,000       5,800,000      -7,900,000
Deferred income taxes                             36,100,000      -2,100,000     -44,900,000      42,000,000     -10,800,000      42,200,000
(Gain) Loss from discontinued operations           1,000,000         700,000    -103,000,000    -513,100,000     -15,300,000       4,300,000
Stock based compensation                          56,100,000      49,300,000      38,700,000      53,700,000      37,300,000      38,000,000
Inventory                                       -103,000,000      50,600,000     -25,600,000      64,500,000     -11,800,000     -13,800,000
Prepaid expenses                                  -6,600,000     -11,700,000         500,000       2,900,000     -10,800,000      -8,500,000
Accounts payable                                 -10,200,000      10,800,000      27,200,000     -20,900,000      45,600,000      43,300,000
Accrued liabilities                              -13,300,000      -9,300,000       7,500,000      23,400,000      -5,900,000      -1,000,000
Income taxes payable                             -20,200,000      28,900,000     -21,000,000       2,200,000     -22,700,000     -13,700,000
Other working capital                            -38,100,000      14,700,000      48,200,000       4,200,000      48,400,000      80,200,000
Other non-cash items                             504,100,000      -3,100,000     219,800,000    -287,400,000      91,800,000      56,500,000
Net cash provided by operating activities        762,200,000     949,299,968     770,099,968     471,000,000     820,400,000     924,099,968

Cash Flows From Investing Activities
Investments in property, plant, and equipmen    -639,699,968    -685,600,000    -414,800,000    -296,500,000    -228,300,000    -241,400,000
Property, plant, and equipment reductions          3,300,000         400,000       4,400,000      67,900,000     325,200,000      20,700,000
Acquisitions, net                                -58,500,000    -577,400,000               0               0               0               0
Purchases of investments                         -32,100,000     -12,900,000      -3,000,000               0               0        -900,000
Sales/Maturities of investments                   21,300,000      26,000,000       8,700,000       9,700,000       1,800,000       3,000,000
Other investing activities                       -15,900,000     -37,500,000    -176,100,000   1,970,000,000     -23,300,000     -26,200,000
Net cash used for investing activities          -721,600,000  -1,287,000,064    -580,800,000   1,751,100,032      75,400,000    -244,800,000

Cash Flows From Financing Activities
Debt issued                                      400,000,000   3,720,300,032               0     490,500,000               0               0
Debt repayment                                -2,247,500,032  -3,126,000,128  -2,575,200,000  -1,673,100,032  -1,100,199,936    -830,400,000
Common stock issued                               70,200,000      64,400,000      58,100,000     159,700,000      99,300,000      83,200,000
Common stock repurchased                        -375,100,000     -52,400,000        -500,000    -502,300,000    -184,800,000    -399,100,000
Excess tax benefit from stock based compe           -600,000        -100,000        -200,000        -100,000               0               0
Dividend paid                                   -223,900,000    -258,200,000    -288,300,000    -278,900,000    -268,200,000    -267,100,000
Other financing activities                     2,336,499,968       7,400,000   2,626,899,968      19,700,000     333,100,000      14,500,000
Net cash provided by (used for) financing        -40,400,000     355,400,000    -179,200,000  -1,784,499,968  -1,120,800,000  -1,398,899,968

Net change in cash                                   200,000      17,700,000      10,100,000     437,600,000    -225,000,000    -719,600,000
Cash at beginning of period                       70,500,000      70,500,000      88,200,000      98,300,000     535,900,000     857,600,000
Cash at end of period                             70,700,000      88,200,000      98,300,000     535,900,000     310,900,000     138,000,000

Free Cash Flow
Operating cash flow                              762,200,000     949,299,968     770,099,968     471,000,000     820,400,000     924,099,968
Capital expenditure                             -639,699,968    -685,600,000    -414,800,000    -296,500,000    -228,300,000    -244,300,000
Free cash flow                                   122,500,000     263,700,000     355,300,000     174,500,000     592,099,968     679,800,000
____________________________________________________________________________________________________________________________________________



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Average to Current P/E Ratios
              (DRI)     Darden Restaurants Inc.

                               2012    2013    2014    2015    2016

          Annual Earnings:     3.57    3.13    2.15    5.47    2.90
Average Price During Year:    50.93   49.41   49.80   66.07   64.52

                P/E Ratio:    14.27   15.79   23.16   12.08   22.25

 Average 5-Year P/E Ratio  =  17.51
             Current Price =  83.98

Previous 5 Quarter Earnings:   0.82    1.09    0.87    0.64    1.32

           Current Annualized (Last Four Quarters) Earnings =  2.83
                                                           ________
                                 Average PE / Current PE =     0.59
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Financial Ratios

. . . . . . . . . . . . 1 = Highest , 10 = Lowest



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Market Grader

900
901 902 903 904 905 906 907 908 909 910



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Intrinsic Value (DCF)

Intrinsic Value by Discounted Cash Flow Method:

Intrinsic Value



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Book Value

Book Value:

Book Value



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Projected Earnings

Earnings Estimates
Earnings Estimates



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Research Reports

Click Here for Research Reports



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Analysts' Opinions

Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 2
Analysts' Opinion 2



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Insider Activity

Insiders Chart Insider Trades
Insider Trades
Executive Compensation Executive Compensation



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Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


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Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



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Moving Average Chart



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Right Time Study



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for DARDEN RESTAURANTS INC.:
Symbol? DRI
Total Months Available:  40
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  68.68   59.50     74.99   59.93     84.13   71.01

RANGE   =  84.13  TO   59.50            Close =  83.21
CHANNEL =  71.01  TO   68.68           Degree =   1
Volatility =   2.80%                    Index =   0
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

5 out of 8 favorable, (positive opinion.)

Val Idea


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Stock Consultant

Stock Consultant Stock Consultant



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Point & Figure Chart

P & F Chart


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Wall Street Analyzer




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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

3 out of 3 of the ultimate systems favor an upmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison - 1
Industry - 1
Bond Issue + 1
Zenith Index + 1
Non-GAAP vs. GAAP Earnings - 1
Cash Flow - 1
Average to Current P/E - 1
Ratios + 1
Market Grader - 1
Intrinsic Value DCF - 1
Book Value - 1
Projected Earnings + 1
Research Reports + 1
Analysts + 1
Executive Perquisites - 1
Insider Activity - 1
Institutional Activity + 1
Management Reporting - 1
Short Interest + 1
Sentiment + 1
Standard & Poor's + 1
Moving Average + 1
Right Time Study + 1
MACD Histogram Divergence + 1
Val Idea + 1
Stock Consultant - 1
Point & Figure + 1
Wall Street Analyzer + 1
Marketspace Chart + 1
Time Series Chart - 1
Neural Network 0
Stock Options + 1
Ultimate Trading Systems + 1
Total + 7
Place 360 shares of Darden Restaurants Inc. (DRI) on the Active List.