Red Robin (RRGB) Stock Moves -0.12%: What You Should Know
Red Robin (RRGB) closed the latest trading day at $8.07, indicating a -0.12% change from the previous session's end. This change was narrower than the S&P 500's 0.85% loss on the day. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.96%.
Shares of the casual restaurant chain witnessed a loss of 8.39% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 5.44% and the S&P 500's loss of 3.02%.
Analysts and investors alike will be keeping a close eye on the performance of Red Robin in its upcoming earnings disclosure. The company's earnings report is set to go public on November 1, 2023. The company is expected to report EPS of -$0.81, up 21.36% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $278.29 million, indicating a 3% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.28 per share and a revenue of $1.3 billion, representing changes of +60.74% and +2.4%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Red Robin. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 14.58% downward. Red Robin presently features a Zacks Rank of #3 (Hold).
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Red Robin Gourmet Burgers, Inc. (RRGB) : Free Stock Analysis Report
