KeyCorp Weighs in on Red Robin Gourmet Burgers, Inc.’s Q3 2017 Earnings...

KeyCorp Weighs in on Red Robin Gourmet Burgers, Inc.’s Q3 2017 Earnings (RRGB)

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Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) – Equities research analysts at KeyCorp lifted their Q3 2017 earnings per share (EPS) estimates for shares of Red Robin Gourmet Burgers in a report issued on Tuesday. KeyCorp analyst C. O’cull now forecasts that the restaurant operator will post earnings per share of $0.51 for the quarter, up from their prior forecast of $0.50. KeyCorp also issued estimates for Red Robin Gourmet Burgers’ FY2017 earnings at $2.70 EPS.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Tuesday, May 16th. The restaurant operator reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.31. Red Robin Gourmet Burgers had a return on equity of 11.87% and a net margin of 2.49%. The company had revenue of $418.60 million for the quarter, compared to analysts’ expectations of $416.48 million. During the same period in the previous year, the firm posted $1.27 EPS. Red Robin Gourmet Burgers’s revenue was up 4.1% compared to the same quarter last year.

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Several other brokerages have also weighed in on RRGB. TheStreet upgraded shares of Red Robin Gourmet Burgers to a “buy” rating in a research report on Thursday. Canaccord Genuity restated a “hold” rating and set a $62.00 target price on shares of Red Robin Gourmet Burgers in a research report on Wednesday. Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Friday. Maxim Group upped their target price on shares of Red Robin Gourmet Burgers from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, May 11th. Finally, Bank of America Corp upgraded shares of Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $80.00 in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Red Robin Gourmet Burgers currently has an average rating of “Buy” and a consensus target price of $68.88.

Shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) opened at 71.10 on Thursday. The company has a 50-day moving average price of $59.22 and a 200 day moving average price of $53.21. Red Robin Gourmet Burgers has a 12-month low of $40.85 and a 12-month high of $72.60. The firm has a market capitalization of $915.13 million, a PE ratio of 81.72 and a beta of 0.85.

Hedge funds have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC acquired a new stake in Red Robin Gourmet Burgers during the third quarter valued at approximately $8,413,000. State of Wisconsin Investment Board raised its stake in Red Robin Gourmet Burgers by 11.6% in the third quarter. State of Wisconsin Investment Board now owns 288,632 shares of the restaurant operator’s stock valued at $12,971,000 after buying an additional 30,000 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Red Robin Gourmet Burgers during the third quarter valued at approximately $14,021,000. BlackRock Fund Advisors raised its stake in Red Robin Gourmet Burgers by 6.0% in the third quarter. BlackRock Fund Advisors now owns 927,184 shares of the restaurant operator’s stock valued at $41,668,000 after buying an additional 52,666 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Red Robin Gourmet Burgers by 33.6% in the third quarter. New York State Common Retirement Fund now owns 78,232 shares of the restaurant operator’s stock valued at $3,516,000 after buying an additional 19,668 shares in the last quarter.

In related news, CFO Guy J. Constant bought 5,000 shares of the stock in a transaction on Friday, February 24th. The shares were bought at an average cost of $47.30 per share, for a total transaction of $236,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.66% of the company’s stock.

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.

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Dan specializes in matters of money management and personal finance and has been published on numerous financial, business, health and wellness and sports websites.

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