Wall Street analysts expect Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) to announce sales of $307.68 million for the current quarter, Zacks reports. Three analysts have provided estimates for Red Robin Gourmet Burgers’ earnings. The highest sales estimate is $311.62 million and the lowest is $303.48 million. Red Robin Gourmet Burgers posted sales of $297.31 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.5%. The firm is expected to report its next earnings report on Wednesday, November 1st.
On average, analysts expect that Red Robin Gourmet Burgers will report full-year sales of $307.68 million for the current fiscal year, with estimates ranging from $1.37 billion to $1.38 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.39 billion per share, with estimates ranging from $1.37 billion to $1.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Red Robin Gourmet Burgers.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.10. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The business had revenue of $315.80 million during the quarter, compared to analysts’ expectations of $315.69 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis.
RRGB has been the topic of a number of recent analyst reports. Stephens reiterated an “overweight” rating and set a $75.00 target price on shares of Red Robin Gourmet Burgers in a research note on Friday, May 19th. BidaskClub cut Red Robin Gourmet Burgers from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Raymond James Financial, Inc. reiterated a “strong-buy” rating and set a $85.00 target price on shares of Red Robin Gourmet Burgers in a research note on Tuesday, July 25th. Maxim Group reiterated a “buy” rating and set a $75.00 target price on shares of Red Robin Gourmet Burgers in a research note on Wednesday, August 9th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $62.00 target price on shares of Red Robin Gourmet Burgers in a research note on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Red Robin Gourmet Burgers has an average rating of “Hold” and an average target price of $73.40.
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In other Red Robin Gourmet Burgers news, CFO Guy J. Constant acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $58.88 per share, with a total value of $147,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.66% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of RRGB. Janney Montgomery Scott LLC purchased a new stake in Red Robin Gourmet Burgers in the first quarter worth approximately $499,000. Russell Investments Group Ltd. boosted its stake in Red Robin Gourmet Burgers by 206.1% in the first quarter. Russell Investments Group Ltd. now owns 28,075 shares of the restaurant operator’s stock worth $1,641,000 after buying an additional 18,904 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Red Robin Gourmet Burgers by 2,125.9% in the first quarter. Wells Fargo & Company MN now owns 212,862 shares of the restaurant operator’s stock worth $12,442,000 after buying an additional 203,299 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Red Robin Gourmet Burgers by 4.6% in the first quarter. Great West Life Assurance Co. Can now owns 17,280 shares of the restaurant operator’s stock worth $1,009,000 after buying an additional 763 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in Red Robin Gourmet Burgers in the first quarter worth approximately $589,000.
Red Robin Gourmet Burgers (RRGB) opened at 59.50 on Wednesday. The company’s 50-day moving average is $58.57 and its 200 day moving average is $60.15. The firm has a market cap of $769.16 million, a PE ratio of 92.25 and a beta of 0.63. Red Robin Gourmet Burgers has a one year low of $40.85 and a one year high of $74.11.
About Red Robin Gourmet Burgers
Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.
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