Red Robin (RRGB) Stock Moves -0.45%: What You Should Know
In the latest trading session, Red Robin (RRGB) closed at $15.53, marking a -0.45% move from the previous day. This change was narrower than the S&P 500's 0.68% loss on the day. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, lost 3.19%.
Prior to today's trading, shares of the casual restaurant chain had gained 16.24% over the past month. This has outpaced the Retail-Wholesale sector's gain of 4.39% and the S&P 500's gain of 3.58% in that time.
Wall Street will be looking for positivity from Red Robin as it approaches its next earnings report date. 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%. Our most recent consensus estimate is calling for quarterly revenue of $295.3 million, up 0.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.38 per share and revenue of $1.31 billion, which would represent changes of +57.67% and +3.44%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Red Robin. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection 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 29, which puts it in the top 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Red Robin Gourmet Burgers, Inc. (RRGB) : Free Stock Analysis Report
