- Oops!Something went wrong.Please try again later.
Red Robin (RRGB) shares ended the last trading session 7.4% higher at $36.37. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.4% gain over the past four weeks.
Shares of Red Robin appreciated after the company reported first-quarter fiscal 2021 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Moreover, the top and the bottom line increased on a year-over-year basis.
Price and Consensus
This casual restaurant chain is expected to post quarterly loss of $0.16 per share in its upcoming report, which represents a year-over-year change of +95.2%. Revenues are expected to be $263.71 million, up 63.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Red Robin, the consensus EPS estimate for the quarter has been revised 61.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RRGB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Red Robin Gourmet Burgers, Inc. (RRGB) : Free Stock Analysis Report
To read this article on Zacks.com click here.