Wall Street analysts forecast that Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) will announce $428.91 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Red Robin Gourmet Burgers’ earnings, with the lowest sales estimate coming in at $425.08 million and the highest estimate coming in at $432.72 million. Red Robin Gourmet Burgers posted sales of $418.56 million in the same quarter last year, which suggests a positive year over year growth rate of 2.5%. The company is scheduled to report its next quarterly earnings results on Tuesday, May 15th.
On average, analysts expect that Red Robin Gourmet Burgers will report full-year sales of $428.91 million for the current financial year, with estimates ranging from $1.37 billion to $1.39 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.40 billion per share, with estimates ranging from $1.39 billion to $1.41 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Red Robin Gourmet Burgers.
Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Thursday, February 22nd. The restaurant operator reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.24. The business had revenue of $342.35 million during the quarter, compared to analysts’ expectations of $330.51 million. Red Robin Gourmet Burgers had a net margin of 2.17% and a return on equity of 8.63%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share.
Several brokerages recently issued reports on RRGB. BidaskClub raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating in a research note on Tuesday, March 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $56.00 price objective (down previously from $57.00) on shares of Red Robin Gourmet Burgers in a research note on Monday, February 26th. Jefferies Group raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and upped their price objective for the company from $58.00 to $63.00 in a research note on Friday, December 22nd. Finally, Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Red Robin Gourmet Burgers presently has a consensus rating of “Buy” and an average price target of $66.73.
Shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) opened at $60.90 on Friday. Red Robin Gourmet Burgers has a one year low of $45.70 and a one year high of $74.11. The company has a market cap of $789.14, a PE ratio of 26.36, a PEG ratio of 2.37 and a beta of 0.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.47 and a current ratio of 0.65.
In other Red Robin Gourmet Burgers news, Director Pattye L. Moore sold 1,500 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $57.98, for a total value of $86,970.00. Following the transaction, the director now directly owns 3,047 shares in the company, valued at approximately $176,665.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.66% of the company’s stock.
Large investors have recently bought and sold shares of the business. Winslow Evans & Crocker Inc. boosted its holdings in Red Robin Gourmet Burgers by 100.0% in the 4th quarter. Winslow Evans & Crocker Inc. now owns 2,000 shares of the restaurant operator’s stock valued at $113,000 after purchasing an additional 1,000 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Red Robin Gourmet Burgers by 6.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,871 shares of the restaurant operator’s stock valued at $122,000 after purchasing an additional 112 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Red Robin Gourmet Burgers in the 3rd quarter valued at about $147,000. 361 Capital LLC acquired a new position in Red Robin Gourmet Burgers in the 3rd quarter valued at about $212,000. Finally, Stone Ridge Asset Management LLC acquired a new position in Red Robin Gourmet Burgers in the 4th quarter valued at about $229,000.
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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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