Red Robin (RRGB) Gains As Market Dips: What You Should Know
Red Robin (RRGB) closed at $14.34 in the latest trading session, marking a +0.35% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the casual restaurant chain had gained 1.42% over the past month, lagging the Retail-Wholesale sector's gain of 3.93% and the S&P 500's gain of 5.14% in that time.
Investors will be hoping for strength from Red Robin as it approaches its next earnings release. On that day, Red Robin is projected to report earnings of -$0.55 per share, which would represent year-over-year growth of 26.67%. Meanwhile, our latest consensus estimate is calling for revenue of $295.3 million, up 0.41% from the prior-year quarter.
RRGB's full-year Zacks Consensus Estimates are calling for earnings of -$1.38 per share and revenue of $1.31 billion. These results would represent year-over-year changes of +57.67% and +3.44%, respectively.
Investors should also note any recent changes to analyst estimates for Red Robin. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% higher. Red Robin is currently a Zacks Rank #1 (Strong Buy).
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RRGB in the coming trading sessions, be sure to utilize Zacks.com.
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Red Robin Gourmet Burgers, Inc. (RRGB) : Free Stock Analysis Report
