$204.98 Million in Sales Expected for Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) This Quarter


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Brokerages forecast that Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) will post sales of $204.98 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Red Robin Gourmet Burgers’ earnings, with the lowest sales estimate coming in at $204.68 million and the highest estimate coming in at $205.27 million. Red Robin Gourmet Burgers reported sales of $302.95 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 32.3%. The firm is scheduled to report its next earnings results on Tuesday, February 23rd.

According to Zacks, analysts expect that Red Robin Gourmet Burgers will report full year sales of $872.50 million for the current financial year, with estimates ranging from $872.22 million to $872.94 million. For the next fiscal year, analysts forecast that the company will report sales of $1.03 billion, with estimates ranging from $1.02 billion to $1.05 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Red Robin Gourmet Burgers.

Several brokerages have commented on RRGB. Zacks Investment Research lowered shares of Red Robin Gourmet Burgers from a “buy” rating to a “sell” rating and set a $21.00 price objective on the stock. in a research report on Wednesday, January 6th. Raymond James lifted their price objective on shares of Red Robin Gourmet Burgers from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 10th. Morgan Stanley boosted their price objective on shares of Red Robin Gourmet Burgers from $14.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 19th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $15.00 price objective (up previously from $12.00) on shares of Red Robin Gourmet Burgers in a research note on Thursday, December 17th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.00.

A number of institutional investors have recently made changes to their positions in RRGB. SummerHaven Investment Management LLC bought a new stake in Red Robin Gourmet Burgers during the fourth quarter valued at approximately $915,000. BlackRock Inc. lifted its position in Red Robin Gourmet Burgers by 12.1% during the third quarter. BlackRock Inc. now owns 2,259,595 shares of the restaurant operator’s stock valued at $29,737,000 after purchasing an additional 244,317 shares during the last quarter. Royce & Associates LP lifted its position in Red Robin Gourmet Burgers by 6,120.7% during the third quarter. Royce & Associates LP now owns 180,400 shares of the restaurant operator’s stock valued at $2,374,000 after purchasing an additional 177,500 shares during the last quarter. Acuitas Investments LLC bought a new stake in Red Robin Gourmet Burgers during the third quarter valued at approximately $2,060,000. Finally, Smith Graham & Co. Investment Advisors LP lifted its position in Red Robin Gourmet Burgers by 48.2% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 447,377 shares of the restaurant operator’s stock valued at $5,887,000 after purchasing an additional 145,488 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

RRGB stock traded down $0.44 during mid-day trading on Tuesday, hitting $29.65. The company had a trading volume of 315,723 shares, compared to its average volume of 387,858. The firm has a market cap of $460.82 million, a PE ratio of -1.62 and a beta of 2.85. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.55 and a current ratio of 0.67. Red Robin Gourmet Burgers has a 12 month low of $4.04 and a 12 month high of $35.94. The stock’s fifty day moving average price is $25.62 and its two-hundred day moving average price is $17.63.

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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