Analysts Expect Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Will Post Quarterly Sales of $306.01 Million

Equities research analysts predict that Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) will announce $306.01 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Red Robin Gourmet Burgers’ earnings, with the lowest sales estimate coming in at $297.95 million and the highest estimate coming in at $314.08 million. Red Robin Gourmet Burgers posted sales of $306.07 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0%. The firm is expected to issue its next earnings results after the market closes on Tuesday, May 25th.

According to Zacks, 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 year, analysts anticipate that the firm will post sales of $1.22 billion, with estimates ranging from $1.20 billion to $1.24 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Red Robin Gourmet Burgers.

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

RRGB has been the subject of a number of recent analyst reports. Zacks Investment Research raised 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. Raymond James lifted their target price on shares of Red Robin Gourmet Burgers from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. 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 note on Thursday, March 4th. Finally, Morgan Stanley upped their target price on Red Robin Gourmet Burgers from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, April 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.33.

Shares of NASDAQ RRGB opened at $33.69 on Friday. The firm’s fifty day moving average is $35.98 and its 200 day moving average is $27.15. Red Robin Gourmet Burgers has a 52 week low of $7.26 and a 52 week high of $41.34. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The company has a market cap of $524.92 million, a price-to-earnings ratio of -1.81 and a beta of 2.85.

In related news, Director Gerard Johan Hart sold 2,811 shares of the company’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 value of $110,106.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.22% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Abundance Wealth Counselors purchased a new position in shares of Red Robin Gourmet Burgers in the 1st quarter worth about $39,000. KBC Group NV purchased a new position in Red Robin Gourmet Burgers in the fourth quarter worth about $40,000. SG Americas Securities LLC bought a new position in shares of Red Robin Gourmet Burgers in the fourth quarter worth approximately $180,000. Oliver Luxxe Assets LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the first quarter valued at approximately $202,000. Finally, State of Tennessee Treasury Department increased its position in shares of Red Robin Gourmet Burgers by 15.3% during the first quarter. State of Tennessee Treasury Department now owns 5,521 shares of the restaurant operator’s stock valued at $220,000 after acquiring an additional 732 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Company Profile

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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