Red Robin (RRGB) Stock Declines While Market Improves: Some Information for Investors
Red Robin (RRGB) closed the latest trading day at $9.06, indicating a -0.33% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.04% for the day. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.28%.
The casual restaurant chain's shares have seen a decrease of 12.6% over the last month, not keeping up with the Retail-Wholesale sector's gain of 7.4% and the S&P 500's gain of 5.01%.
Market participants will be closely following the financial results of Red Robin in its upcoming release. The company plans to announce its earnings on February 28, 2024. The company's upcoming EPS is projected at -$0.43, signifying a 68.15% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $304.73 million, showing a 5.05% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for Red Robin should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Red Robin holds a Zacks Rank of #3 (Hold).
The Retail - Restaurants industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 150, this industry ranks in the bottom 41% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Red Robin Gourmet Burgers, Inc. (RRGB) : Free Stock Analysis Report
