Why Red Robin Gourmet Burgers, Inc. Stock Plummeted Today
Shares of Red Robin Gourmet Burgers Inc. (NASDAQ: RRGB) were down 29.6% as of 2 p.m. EST Tuesday after the burger-centric restaurant chain announced disappointing quarterly results.
More specifically, Red Robin's third-quarter revenue climbed a modest 2.3% year over year to $304.2 million. That translated to adjusted net income of $2.7 million, or $0.21 per share, down from just over $5 million, or $0.38 per share in the same year-ago period. Analysts, on average, were expecting significantly higher net income of $0.29 per share on revenue of $309.3 million.
IMAGE SOURCE: RED ROBIN GOURMET BURGERS.
Source: Fool.com
Red Robin Gourmet Burgers Inc. Stock
€3.18
3.920%
With 9 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
With a target price of 14 € there is potential for a 340.25% increase which would mean more than doubling the current price of 3.18 € for Red Robin Gourmet Burgers Inc..
