Red Robin Gourmet Burgers, Inc. (RRGB) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS
Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) released its quarterly earnings results on Monday. The restaurant operator reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.09), Bloomberg Earnings reports. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The firm had revenue of $304.20 million for the quarter, compared to analysts’ expectations of $308.44 million. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Red Robin Gourmet Burgers updated its Q4 guidance to $0.45-$0.60 EPS.
Red Robin Gourmet Burgers (NASDAQ:RRGB) traded down $18.88 during midday trading on Tuesday, hitting $48.18. 1,719,836 shares of the stock traded hands, compared to its average volume of 328,324. Red Robin Gourmet Burgers has a one year low of $45.20 and a one year high of $74.11. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $866.81, a price-to-earnings ratio of 30.02, a P/E/G ratio of 2.33 and a beta of 0.67.
In other Red Robin Gourmet Burgers news, CFO Guy J. Constant purchased 2,500 shares of the stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $58.88 per share, with a total value of $147,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.66% of the company’s stock.
Several research firms recently weighed in on RRGB. Maxim Group restated a “buy” rating and set a $75.00 price target on shares of Red Robin Gourmet Burgers in a report on Monday, October 30th. Stifel Nicolaus began coverage on shares of Red Robin Gourmet Burgers in a report on Monday, October 2nd. They set a “hold” rating and a $62.00 price target on the stock. Raymond James Financial, Inc. cut shares of Red Robin Gourmet Burgers from a “strong-buy” rating to an “outperform” rating in a report on Tuesday. BTIG Research dropped their target price on shares of Red Robin Gourmet Burgers from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $80.00 target price on shares of Red Robin Gourmet Burgers in a research note on Sunday, October 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Red Robin Gourmet Burgers presently has a consensus rating of “Hold” and an average price target of $69.36.
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Red Robin Gourmet Burgers Company Profile
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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