Zacks Research Comments on Red Robin Gourmet Burgers, Inc.’s Q3 2024 Earnings (NASDAQ:RRGB)

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) – Equities researchers at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of Red Robin Gourmet Burgers in a report issued on Thursday, September 12th. Zacks Research analyst M. Kaushik now expects that the restaurant operator will post earnings per share of ($0.82) for the quarter, down from their previous forecast 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.

Other research analysts have also issued reports about the company. Craig Hallum decreased their price objective on Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating on the stock in a report on Friday, August 23rd. Lake Street Capital lowered their price target on shares of Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Finally, Benchmark cut their price objective on shares of Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.13.

Red Robin Gourmet Burgers Trading Up 16.0 %

Red Robin Gourmet Burgers stock opened at $3.76 on Monday. The company has a market capitalization of $58.97 million, a price-to-earnings ratio of -2.14 and a beta of 2.74. The stock’s 50 day moving average is $4.78 and its 200-day moving average is $6.31. Red Robin Gourmet Burgers has a 12 month low of $2.97 and a 12 month high of $12.80.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its 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 analyst estimates of $295.57 million. During the same period last year, the firm earned ($0.24) earnings per share.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several hedge funds have recently bought and sold shares of RRGB. First Eagle Investment Management LLC boosted its position in shares of Red Robin Gourmet Burgers by 2.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,006,937 shares of the restaurant operator’s stock worth $7,623,000 after acquiring an additional 20,100 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake in shares of Red Robin Gourmet Burgers by 18.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 911,005 shares of the restaurant operator’s stock valued at $6,896,000 after purchasing an additional 143,957 shares during the last quarter. Acuitas Investments LLC raised its holdings in shares of Red Robin Gourmet Burgers by 9.0% during the 2nd quarter. Acuitas Investments LLC now owns 610,193 shares of the restaurant operator’s stock worth $4,619,000 after buying an additional 50,172 shares in the last quarter. RK Capital Management LLC lifted its position in shares of Red Robin Gourmet Burgers by 1.6% during the 4th quarter. RK Capital Management LLC now owns 397,000 shares of the restaurant operator’s stock worth $4,951,000 after buying an additional 6,100 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Red Robin Gourmet Burgers by 188.9% in the second quarter. Marshall Wace LLP now owns 368,541 shares of the restaurant operator’s stock valued at $2,790,000 after buying an additional 240,954 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

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.