Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) to Post Q3 2024 Earnings of ($0.82) Per Share, Zacks Research Forecasts

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) – Equities researchers at Zacks Research dropped their Q3 2024 earnings estimates for Red Robin Gourmet Burgers in a note issued to investors on Thursday, September 12th. Zacks Research analyst M. Kaushik now anticipates that the restaurant operator will post earnings per share of ($0.82) for the quarter, down from their prior estimate of ($0.38). The consensus estimate for Red Robin Gourmet Burgers’ current full-year earnings is ($2.18) per share. Zacks Research also issued estimates for Red Robin Gourmet Burgers’ Q4 2024 earnings at ($0.26) EPS, FY2024 earnings at ($2.37) EPS, Q1 2025 earnings at ($0.41) EPS, Q2 2025 earnings at ($0.28) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.21) EPS, FY2025 earnings at ($1.28) EPS, Q1 2026 earnings at $0.11 EPS and Q2 2026 earnings at $0.02 EPS.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Thursday, August 22nd. The restaurant operator reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.07). The company had revenue of $300.15 million for the quarter, compared to analysts’ expectations of $295.57 million. During the same quarter in the prior year, the company earned ($0.24) EPS.

A number of other analysts have also recently issued reports on the company. Benchmark decreased their target price on Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Craig Hallum decreased their price objective on Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating for the company in a report on Friday, August 23rd. Finally, Lake Street Capital cut 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, August 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.13.

Red Robin Gourmet Burgers Stock Performance

Shares of RRGB stock opened at $3.24 on Monday. The stock’s 50-day moving average is $4.83 and its two-hundred day moving average is $6.34. Red Robin Gourmet Burgers has a 1 year low of $2.97 and a 1 year high of $12.80. The firm has a market cap of $50.82 million, a price-to-earnings ratio of -1.84 and a beta of 2.74.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several institutional investors have recently added to or reduced their stakes in the stock. Fund 1 Investments LLC grew its stake in shares of Red Robin Gourmet Burgers by 253.0% in the 4th quarter. Fund 1 Investments LLC now owns 304,429 shares of the restaurant operator’s stock valued at $3,796,000 after purchasing an additional 218,187 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its position in Red Robin Gourmet Burgers by 23.0% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 637,588 shares of the restaurant operator’s stock valued at $7,951,000 after buying an additional 119,351 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Red Robin Gourmet Burgers by 11.0% in the 1st quarter. First Eagle Investment Management LLC now owns 986,837 shares of the restaurant operator’s stock valued at $7,559,000 after buying an additional 97,424 shares during the period. Quadrature Capital Ltd purchased a new position in Red Robin Gourmet Burgers during the 1st quarter worth $166,000. Finally, Virtu Financial LLC purchased a new position in Red Robin Gourmet Burgers during the 1st quarter worth $149,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

About Red Robin Gourmet Burgers

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.