Zacks: Brokerages Anticipate Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Will Post Quarterly Sales of $307.09 Million

Equities analysts expect Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) to announce sales of $307.09 million for the current quarter, according to Zacks. Four analysts have made estimates for Red Robin Gourmet Burgers’ earnings, with the lowest sales estimate coming in at $304.44 million and the highest estimate coming in at $309.51 million. Red Robin Gourmet Burgers posted sales of $315.39 million in the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The business is expected to announce its next quarterly earnings report before the market opens on Friday, August 23rd.

On average, analysts expect that Red Robin Gourmet Burgers will report full year sales of $1.31 billion for the current financial year, with estimates ranging from $1.31 billion to $1.33 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.31 billion, with estimates ranging from $1.30 billion to $1.33 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Red Robin Gourmet Burgers.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Thursday, May 30th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.29). Red Robin Gourmet Burgers had a negative net margin of 0.77% and a positive return on equity of 4.14%. The company had revenue of $409.87 million during the quarter, compared to analyst estimates of $408.98 million. During the same quarter last year, the business earned $0.69 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year.

Several analysts have recently issued reports on the stock. TheStreet upgraded shares of Red Robin Gourmet Burgers from a “d+” rating to a “c” rating in a research report on Thursday, May 30th. Maxim Group restated a “buy” rating and set a $44.00 price target (down from $49.00) on shares of Red Robin Gourmet Burgers in a research report on Wednesday, August 7th. Morgan Stanley lowered their price target on shares of Red Robin Gourmet Burgers from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research report on Monday, August 5th. Finally, BidaskClub lowered shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. Ten research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $37.44.

Shares of NASDAQ RRGB traded down $0.64 during trading on Friday, hitting $32.96. The company had a trading volume of 1,026,526 shares, compared to its average volume of 361,514. The stock has a fifty day simple moving average of $32.32 and a two-hundred day simple moving average of $31.00. Red Robin Gourmet Burgers has a fifty-two week low of $24.57 and a fifty-two week high of $42.50. The firm has a market capitalization of $427.36 million, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 2.63 and a beta of 1.13. The company has a quick ratio of 0.30, a current ratio of 0.44 and a debt-to-equity ratio of 1.90.

In other news, Director Glenn B. Kaufman bought 1,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $26.50 per share, for a total transaction of $26,500.00. Following the acquisition, the director now directly owns 29,733 shares of the company’s stock, valued at approximately $787,924.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn B. Kaufman bought 2,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was purchased at an average price of $26.00 per share, for a total transaction of $52,000.00. Following the completion of the acquisition, the director now directly owns 29,733 shares in the company, valued at $773,058. The disclosure for this purchase can be found here. Insiders acquired a total of 206,336 shares of company stock worth $5,359,136 over the last quarter. 2.08% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Kavar Capital Partners LLC acquired a new position in Red Robin Gourmet Burgers in the 2nd quarter valued at about $31,000. Tower Research Capital LLC TRC raised its stake in shares of Red Robin Gourmet Burgers by 65.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,102 shares of the restaurant operator’s stock valued at $125,000 after acquiring an additional 1,629 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Red Robin Gourmet Burgers by 461.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,731 shares of the restaurant operator’s stock valued at $126,000 after acquiring an additional 3,888 shares during the period. Aperio Group LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $153,000. Finally, Eidelman Virant Capital purchased a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $244,000.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants in the United States and Canada. 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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