Red Robin (RRGB) Stock Sinks As Market Gains: What You Should Know
Red Robin (RRGB) ended the recent trading session at $10.21, demonstrating a -0.1% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.96% for the day. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 1.3%.
Shares of the casual restaurant chain have depreciated by 4.84% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 4.23% and the S&P 500's gain of 3.69%.
The investment community will be closely monitoring the performance of Red Robin in its forthcoming earnings report. On that day, Red Robin is projected to report earnings of -$0.44 per share, which would represent year-over-year growth of 67.41%. Our most recent consensus estimate is calling for quarterly revenue of $304.73 million, up 5.05% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Red Robin. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Red Robin is carrying a Zacks Rank of #3 (Hold).
The Retail - Restaurants industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 147, positioning it in the bottom 42% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Red Robin Gourmet Burgers, Inc. (RRGB) : Free Stock Analysis Report
