Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) announced its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10, Briefing.com reports. The firm had revenue of $315.80 million during the quarter, compared to analysts’ expectations of $315.69 million. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. Red Robin Gourmet Burgers updated its Q3 guidance to $0.20-$0.30 EPS.

Red Robin Gourmet Burgers (NASDAQ:RRGB) traded down 0.17% during trading on Friday, reaching $59.30. 223,253 shares of the company were exchanged. The firm’s 50 day moving average price is $61.37 and its 200-day moving average price is $58.88. Red Robin Gourmet Burgers has a one year low of $40.85 and a one year high of $74.11. The stock has a market capitalization of $766.57 million, a price-to-earnings ratio of 91.94 and a beta of 0.62.

A number of brokerages have commented on RRGB. Stephens reiterated an “overweight” rating and issued a $75.00 price target on shares of Red Robin Gourmet Burgers in a research note on Friday, May 19th. BidaskClub cut shares of Red Robin Gourmet Burgers from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Maxim Group increased their price target on shares of Red Robin Gourmet Burgers from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, May 11th. Raymond James Financial, Inc. reiterated a “strong-buy” rating and issued a $85.00 price target on shares of Red Robin Gourmet Burgers in a research note on Tuesday, July 25th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $62.00 price target on shares of Red Robin Gourmet Burgers in a research note on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $72.80.

In related news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $71.80, for a total value of $211,522.80. Following the transaction, the director now directly owns 6,547 shares in the company, valued at $470,074.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Guy J. Constant acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $58.88 per share, for a total transaction of $147,200.00. The disclosure for this purchase can be found here. 2.66% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Red Robin Gourmet Burgers during the fourth quarter worth approximately $840,000. Parametric Portfolio Associates LLC boosted its position in shares of Red Robin Gourmet Burgers by 5.3% in the first quarter. Parametric Portfolio Associates LLC now owns 22,970 shares of the restaurant operator’s stock worth $1,343,000 after buying an additional 1,147 shares during the last quarter. Wealthsource Partners LLC boosted its position in shares of Red Robin Gourmet Burgers by 6.2% in the first quarter. Wealthsource Partners LLC now owns 6,905 shares of the restaurant operator’s stock worth $404,000 after buying an additional 405 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Red Robin Gourmet Burgers by 5.1% in the first quarter. Thrivent Financial For Lutherans now owns 7,280 shares of the restaurant operator’s stock worth $426,000 after buying an additional 350 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Red Robin Gourmet Burgers by 4.3% in the first quarter. Comerica Bank now owns 48,974 shares of the restaurant operator’s stock worth $2,926,000 after buying an additional 2,029 shares during the last quarter.

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About Red Robin Gourmet Burgers

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.

Earnings History for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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