Red Robin Gourmet Burgers Reaches New 1-Year Low After Earnings Miss (RRGB)
Red Robin Gourmet Burgers (NASDAQ:RRGB) hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings, AmericanBankingNews.com reports. The stock traded as low as $50.50 and last traded at $51.52, with a volume of 2,657,583 shares. The stock had previously closed at $64.55.
The company reported $0.68 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.90 by $0.22. The company had revenue of $256.10 million for the quarter, compared to the consensus estimate of $263.37 million.
The stock’s 50-day moving average is $67.24 and its 200-day moving average is $69.63. The company has a market cap of $735.1 million and a P/E ratio of 27.10.
Red Robin Gourmet Burgers, Inc (NASDAQ:RRGB) together with its subsidiaries, is a casual dining restaurant chain focused on serving gourmet burgers.
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