Equities research analysts predict that Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) will report $315.20 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Red Robin Gourmet Burgers’ earnings. The lowest sales estimate is $311.98 million and the highest is $319.82 million. Red Robin Gourmet Burgers reported sales of $305.55 million in the same quarter last year, which indicates a positive year over year growth rate of 3.2%. The company is expected to issue its next quarterly earnings report on Monday, August 14th.

According to Zacks, analysts expect that Red Robin Gourmet Burgers will report full year sales of $315.20 million for the current fiscal year, with estimates ranging from $1.36 billion to $1.39 billion. For the next financial year, analysts expect that the firm will report sales of $1.38 billion per share, with estimates ranging from $1.36 billion to $1.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Red Robin Gourmet Burgers.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Tuesday, May 16th. The restaurant operator reported $0.89 EPS for the quarter, beating the consensus estimate of $0.58 by $0.31. The firm had revenue of $418.60 million during the quarter, compared to the consensus estimate of $416.48 million. Red Robin Gourmet Burgers had a net margin of 0.69% and a return on equity of 8.73%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 earnings per share.

Several research firms have recently issued reports on RRGB. Maxim Group restated a “buy” rating and issued a $80.00 target price on shares of Red Robin Gourmet Burgers in a report on Tuesday, May 23rd. Wells Fargo & Company reiterated a “market perform” rating and set a $70.00 price objective on shares of Red Robin Gourmet Burgers in a report on Thursday, May 25th. Bank of America Corporation lifted their price objective on shares of Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Canaccord Genuity upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and lifted their price objective for the company from $72.00 to $90.00 in a report on Friday, May 26th. Finally, TheStreet upgraded shares of Red Robin Gourmet Burgers from a “c” rating to a “b-” rating in a report on Thursday, May 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $74.22.

In other news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of Red Robin Gourmet Burgers 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 owns 6,547 shares of the company’s stock, valued at approximately $470,074.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glenn B. Kaufman sold 4,000 shares of Red Robin Gourmet Burgers stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $289,000.00. The disclosure for this sale can be found here. Company insiders own 2.66% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of RRGB. Public Employees Retirement System of Ohio increased its position in shares of Red Robin Gourmet Burgers by 10.3% in the first quarter. Public Employees Retirement System of Ohio now owns 1,759 shares of the restaurant operator’s stock worth $103,000 after buying an additional 164 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Red Robin Gourmet Burgers by 15.4% in the first quarter. Goldman Sachs Group Inc. now owns 33,042 shares of the restaurant operator’s stock worth $1,931,000 after buying an additional 4,405 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Red Robin Gourmet Burgers during the first quarter worth about $7,148,000. Scopus Asset Management L.P. purchased a new position in shares of Red Robin Gourmet Burgers during the first quarter worth about $9,945,000. Finally, Highbridge Capital Management LLC increased its position in shares of Red Robin Gourmet Burgers by 168.2% in the first quarter. Highbridge Capital Management LLC now owns 300,000 shares of the restaurant operator’s stock worth $17,535,000 after buying an additional 188,158 shares during the last quarter.

Red Robin Gourmet Burgers (NASDAQ:RRGB) opened at 65.10 on Thursday. The company has a market capitalization of $837.77 million, a P/E ratio of 95.45 and a beta of 0.57. The stock’s 50 day moving average is $65.75 and its 200 day moving average is $56.07. Red Robin Gourmet Burgers has a 52 week low of $40.85 and a 52 week high of $74.11.

COPYRIGHT VIOLATION NOTICE: “Red Robin Gourmet Burgers, Inc. (RRGB) Expected to Announce Quarterly Sales of $315.20 Million” was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/06/22/red-robin-gourmet-burgers-inc-rrgb-expected-to-announce-quarterly-sales-of-315-20-million.html.

Red Robin Gourmet Burgers Company Profile

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.

Get a free copy of the Zacks research report on Red Robin Gourmet Burgers (RRGB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Red Robin Gourmet Burgers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Robin Gourmet Burgers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.