Scotiabank Has Negative Outlook of DAR FY2024 Earnings

Darling Ingredients Inc. (NYSE:DAR) – Research analysts at Scotiabank reduced their FY2024 earnings per share estimates for Darling Ingredients in a report released on Wednesday, January 8th. Scotiabank analyst P. Cheng now anticipates that the company will earn $1.60 per share for the year, down from their previous forecast of $2.40. The consensus estimate for Darling Ingredients’ current full-year earnings is $1.88 per share. Scotiabank also issued estimates for Darling Ingredients’ FY2026 earnings at $3.85 EPS.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.29). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 earnings per share.

Other equities research analysts have also issued research reports about the stock. Piper Sandler dropped their price objective on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Jefferies Financial Group raised their price target on Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price objective on Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Darling Ingredients has an average rating of “Moderate Buy” and an average target price of $53.44.

Darling Ingredients Trading Up 7.9 %

Darling Ingredients stock opened at $36.32 on Monday. Darling Ingredients has a 1 year low of $32.55 and a 1 year high of $48.39. The firm’s 50-day moving average is $37.35 and its 200-day moving average is $37.55. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.41. The company has a market cap of $5.78 billion, a P/E ratio of 22.42 and a beta of 1.21.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DAR. Erste Asset Management GmbH bought a new stake in shares of Darling Ingredients during the third quarter valued at about $30,545,000. Algert Global LLC increased its stake in Darling Ingredients by 266.6% during the 3rd quarter. Algert Global LLC now owns 103,871 shares of the company’s stock valued at $3,860,000 after buying an additional 75,540 shares during the period. Natixis Advisors LLC raised its position in shares of Darling Ingredients by 23.2% during the 3rd quarter. Natixis Advisors LLC now owns 107,913 shares of the company’s stock worth $4,010,000 after buying an additional 20,323 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Darling Ingredients by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 1,093,516 shares of the company’s stock worth $40,635,000 after acquiring an additional 42,921 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Darling Ingredients by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,263 shares of the company’s stock valued at $50,210,000 after acquiring an additional 15,414 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Company Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.