Red Robin Gourmet Burgers (NASDAQ:RRGB) Issues Quarterly Earnings Results

Red Robin Gourmet Burgers (NASDAQ:RRGB) released its earnings results on Thursday. The restaurant operator reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.07), Zacks reports. The business had revenue of $300.15 million during the quarter, compared to analysts’ expectations of $295.57 million. During the same period in the previous year, the firm earned ($0.24) EPS. Red Robin Gourmet Burgers updated its FY 2024 guidance to EPS.

Red Robin Gourmet Burgers Stock Down 14.8 %

NASDAQ RRGB opened at $4.03 on Friday. The company has a market capitalization of $63.19 million, a price-to-earnings ratio of -2.69 and a beta of 2.75. Red Robin Gourmet Burgers has a twelve month low of $4.03 and a twelve month high of $12.80. The stock has a fifty day simple moving average of $6.15 and a 200 day simple moving average of $7.12.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RRGB shares. Benchmark lowered their price target 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. 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 for the company in a report on Friday. Finally, Craig Hallum lowered their price target on shares of Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.13.

Red Robin Gourmet Burgers Company Profile

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.