Red Robin Gourmet Burgers (NASDAQ:RRGB) Issues Earnings Results

Red Robin Gourmet Burgers (NASDAQ:RRGB) released its quarterly earnings results on Thursday. The restaurant operator reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.07), Zacks reports. The business had revenue of $300.15 million during the quarter, compared to analysts’ expectations of $295.57 million. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. Red Robin Gourmet Burgers updated its FY 2024 guidance to EPS.

Red Robin Gourmet Burgers Price Performance

Shares of Red Robin Gourmet Burgers stock opened at $4.34 on Friday. Red Robin Gourmet Burgers has a one year low of $3.92 and a one year high of $12.80. The business’s 50 day simple moving average is $6.08 and its two-hundred day simple moving average is $7.08. The stock has a market capitalization of $68.07 million, a P/E ratio of -2.47 and a beta of 2.75.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RRGB. Benchmark decreased their price target on shares of Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday. Craig Hallum reduced their price target on shares of Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating on the stock in a research report on Friday. Finally, Lake Street Capital reduced their target price on shares of Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.13.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.