Analysts expect that Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) will post sales of $314.96 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Red Robin Gourmet Burgers’ earnings, with the lowest sales estimate coming in at $311.98 million and the highest estimate coming in at $319.82 million. Red Robin Gourmet Burgers posted sales of $305.55 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The business is scheduled to report its next earnings report after the market closes on Tuesday, August 8th.

On average, analysts expect that Red Robin Gourmet Burgers will report full year sales of $314.96 million for the current year, with estimates ranging from $1.37 billion to $1.39 billion. For the next financial year, analysts forecast that the firm will post sales of $1.39 billion per share, with estimates ranging from $1.38 billion to $1.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Red Robin Gourmet Burgers.

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

A number of equities analysts have recently commented on RRGB shares. Maxim Group raised 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. Bank of America Corporation raised shares of Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and raised their target price for the stock from $65.00 to $80.00 in a research report on Wednesday, May 17th. Morgan Stanley reaffirmed an “equal weight” rating and set a $58.00 target price (up from $53.00) on shares of Red Robin Gourmet Burgers in a research report on Wednesday, May 17th. Canaccord Genuity reaffirmed a “hold” rating and set a $62.00 target price on shares of Red Robin Gourmet Burgers in a research report on Wednesday, May 17th. Finally, TheStreet raised shares of Red Robin Gourmet Burgers from a “c” rating to a “b-” rating in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $74.80.

In other Red Robin Gourmet Burgers news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of Red Robin Gourmet Burgers stock in a transaction 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 directly owns 6,547 shares of the company’s stock, valued at $470,074.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenn B. Kaufman sold 4,000 shares of Red Robin Gourmet Burgers stock in a transaction 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.

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Red Robin Gourmet Burgers by 43,842.6% in the first quarter. BlackRock Inc. now owns 1,561,279 shares of the restaurant operator’s stock valued at $91,256,000 after buying an additional 1,557,726 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Red Robin Gourmet Burgers by 29.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,084,203 shares of the restaurant operator’s stock valued at $63,371,000 after buying an additional 246,178 shares in the last quarter. Ameriprise Financial Inc. raised its position in Red Robin Gourmet Burgers by 772.5% in the first quarter. Ameriprise Financial Inc. now owns 770,351 shares of the restaurant operator’s stock valued at $45,027,000 after buying an additional 682,062 shares in the last quarter. Vanguard Group Inc. raised its position in Red Robin Gourmet Burgers by 4.9% in the first quarter. Vanguard Group Inc. now owns 668,118 shares of the restaurant operator’s stock valued at $39,052,000 after buying an additional 30,946 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Red Robin Gourmet Burgers by 2.0% in the first quarter. Alliancebernstein L.P. now owns 525,590 shares of the restaurant operator’s stock valued at $30,721,000 after buying an additional 10,250 shares in the last quarter.

Red Robin Gourmet Burgers (NASDAQ:RRGB) opened at 56.85 on Tuesday. The stock has a market cap of $731.60 million, a P/E ratio of 83.36 and a beta of 0.62. Red Robin Gourmet Burgers has a 12-month low of $40.85 and a 12-month high of $74.11. The firm’s 50 day moving average price is $64.27 and its 200-day moving average price is $58.25.

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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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