NEW YORK (TheStreet) -- Brown-Forman (BF.B) shares are down 0.77% to $90.51 in trading on Wednesday after the alcohol manufacturer reported its third quarter earnings results before the opening bell today.

The Jack Daniels bottler reported third quarter net income of $186 million, or 87 cents per share on revenue of $797 million. Analysts on average were expecting the company to report third quarter earnings of 87 cents per share on revenue of $816 million.

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The company also provided full year EPS guidance between $3.15 and $3.25 per diluted share, the midpoint missing analysts' consensus $3.23 per share earning expectations.

The company reported that sales of its Jack Daniels brand whiskey grew 8% over the same period last year, led by a 32% surge in Jack Daniels Tennessee Honey sales. Finlandia vodka sales fell 9% during the period and its Southern Comfort brand whiskey sales dropped 5%.

TheStreet Ratings team rates BROWN-FORMAN as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate BROWN-FORMAN (BF.B) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• You can view the full analysis from the report here: BF.B Ratings Report

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