Tile Shop (TTS) Stock Tumbles on Downbeat Guidance
NEW YORK (TheStreet) --Shares of Tile Shop (TTS) - Get Report are dropping 10.1% to $17.75 on heavy trading volume Tuesday afternoon after the company reported better-than-expected earnings for the 2016 second quarter, but gave a weak forecast for the full year.
Before today's market open, the Plymouth, MN-based tile retailer said it sees earnings per share between 41 cents and 45 cents. Analysts are looking for earnings of 45 cents per share for 2016.
Revenue for the full year is expected to range between $322 million and $329 million, while analysts are modeling $327.1 million.
Earnings of 14 cents per share beat analysts' projections by a penny.
Revenue rose 11% to $84.3 million from last year during the second quarter. Analysts were expecting $84.4 million.
About 2.14 million of the company's shares changed hands so far today compared to its average 30-day volume of 534,638 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and solid stock price performance.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TTS