Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Expected to Announce Quarterly Sales of $306.01 Million

Wall Street brokerages predict that Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) will announce sales of $306.01 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Red Robin Gourmet Burgers’ earnings, with estimates ranging from $297.95 million to $314.08 million. Red Robin Gourmet Burgers posted sales of $306.07 million in the same quarter last year, which indicates a negative year over year growth rate of 0%. The business is scheduled to report its next quarterly earnings results on Wednesday, June 9th.

On average, analysts expect that Red Robin Gourmet Burgers will report full-year sales of $1.10 billion for the current financial year, with estimates ranging from $1.07 billion to $1.13 billion. For the next fiscal year, analysts expect that the company will report sales of $1.22 billion, with estimates ranging from $1.20 billion to $1.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Red Robin Gourmet Burgers.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, March 2nd. The restaurant operator reported ($1.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($0.69). Red Robin Gourmet Burgers had a negative return on equity of 64.97% and a negative net margin of 25.18%. The business had revenue of $201.05 million during the quarter, compared to analysts’ expectations of $222.48 million. During the same period last year, the firm posted ($0.36) EPS. Red Robin Gourmet Burgers’s quarterly revenue was down 33.6% compared to the same quarter last year.

A number of equities analysts have weighed in on RRGB shares. Raymond James boosted their target price on Red Robin Gourmet Burgers from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, March 29th. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a research report on Monday, March 8th. Morgan Stanley upped their price target on shares of Red Robin Gourmet Burgers from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, April 19th. Finally, Loop Capital raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Thursday, March 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $31.33.

NASDAQ:RRGB traded down $0.32 during mid-day trading on Tuesday, reaching $35.56. The company’s stock had a trading volume of 149,113 shares, compared to its average volume of 348,176. Red Robin Gourmet Burgers has a 12-month low of $7.26 and a 12-month high of $41.34. The firm’s fifty day moving average price is $36.78 and its two-hundred day moving average price is $26.10. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 1.35. The stock has a market cap of $554.06 million, a P/E ratio of -1.91 and a beta of 2.85.

In related news, Director Gerard Johan Hart sold 2,811 shares of the business’s stock in a transaction that occurred on Tuesday, March 30th. The stock was sold at an average price of $39.17, for a total transaction of $110,106.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.22% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. THB Asset Management bought a new position in Red Robin Gourmet Burgers in the 4th quarter worth approximately $2,299,000. Morgan Stanley raised its holdings in shares of Red Robin Gourmet Burgers by 23.3% during the 3rd quarter. Morgan Stanley now owns 133,937 shares of the restaurant operator’s stock worth $1,762,000 after acquiring an additional 25,297 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Red Robin Gourmet Burgers by 68.4% during the 3rd quarter. Sei Investments Co. now owns 61,656 shares of the restaurant operator’s stock worth $811,000 after acquiring an additional 25,043 shares in the last quarter. SummerHaven Investment Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the 4th quarter worth approximately $915,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Red Robin Gourmet Burgers by 10.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 262,771 shares of the restaurant operator’s stock worth $3,459,000 after acquiring an additional 24,077 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants. The company's restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.

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