Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Posts Earnings Results, Beats Expectations By $0.10 EPS

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) announced its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.10, Briefing.com reports. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. The firm had revenue of $315.80 million during the quarter, compared to analyst estimates of $315.69 million. During the same period in the prior year, the business earned $0.75 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Red Robin Gourmet Burgers updated its Q3 guidance to $0.20-$0.30 EPS.

Shares of Red Robin Gourmet Burgers (NASDAQ RRGB) traded down 0.17% during midday trading on Friday, reaching $59.30. 223,253 shares of the company traded hands. The company has a 50-day moving average of $61.37 and a 200 day moving average of $58.88. Red Robin Gourmet Burgers has a 12-month low of $40.85 and a 12-month high of $74.11. The firm has a market capitalization of $766.57 million, a PE ratio of 91.94 and a beta of 0.62.

In related news, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $71.80, for a total transaction of $211,522.80. Following the sale, the director now directly owns 6,547 shares in the company, valued at approximately $470,074.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glenn B. Kaufman sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were 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. 2.66% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. ClariVest Asset Management LLC purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth $105,000. Public Employees Retirement System of Ohio raised its stake in 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 period. Acadian Asset Management LLC purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth $149,000. Benjamin F. Edwards & Company Inc. raised its stake in Red Robin Gourmet Burgers by 74.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,431 shares of the restaurant operator’s stock worth $142,000 after buying an additional 1,037 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in Red Robin Gourmet Burgers during the second quarter worth $163,000.

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RRGB has been the subject of a number of recent research reports. Maxim Group increased their price objective on shares of Red Robin Gourmet Burgers from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, May 11th. Bank of America Corporation upgraded shares of Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $65.00 to $80.00 in a research note on Wednesday, May 17th. Morgan Stanley restated an “equal weight” rating and set a $58.00 price objective (up from $53.00) on shares of Red Robin Gourmet Burgers in a research note on Wednesday, May 17th. Canaccord Genuity restated a “hold” rating and set a $62.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Wednesday, May 17th. Finally, TheStreet upgraded shares of Red Robin Gourmet Burgers from a “c” rating to a “b-” rating in a research note on Thursday, May 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $72.80.

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.

Earnings History for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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