Red Robin (RRGB) Stock Sinks As Market Gains: What You Should Know
Red Robin (RRGB) closed at $8.21 in the latest trading session, marking a -0.48% move from the prior day. This move lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Coming into today, shares of the casual restaurant chain had lost 22.02% in the past month. In that same time, the Retail-Wholesale sector lost 2.13%, while the S&P 500 lost 1.38%.
Investors will be hoping for strength from Red Robin as it approaches its next earnings release. In that report, analysts expect Red Robin to post earnings of -$0.70 per share. This would mark year-over-year growth of 32.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $282.66 million, down 1.47% from the year-ago period.
RRGB's full-year Zacks Consensus Estimates are calling for earnings of -$1.12 per share and revenue of $1.3 billion. These results would represent year-over-year changes of +65.64% and +2.79%, respectively.
Any recent changes to analyst estimates for Red Robin should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 7.69% higher. Red Robin is holding a Zacks Rank of #2 (Buy) right now.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Red Robin Gourmet Burgers, Inc. (RRGB) : Free Stock Analysis Report
