NEW YORK (TheStreet) -- Shares of Brink's(BCO) - Get Report closed down by 13.01% to $29.49 on heavy trading volume on Tuesday, after the Richmond, VA-based company posted weaker-than-expected earnings for the 2016 first quarter.
Before the market open, the provider of secure logistics and security solutions reported non-GAAP earnings of 30 cents per share, below analysts' expectations of 35 cents per share.
Revenue declined by 7% to $722 million year-over-year, but was higher than analysts' estimates of $684.97 million.
"First-quarter non-GAAP earnings reflect profit declines in the U.S. and Mexico that were partially offset by continued strength in Latin America and lower corporate expenses," CEO Tom Schievelbein said in a statement.
For 2016, Brink's forecasts earnings per share between $2 and $2.20. Analysts are looking for earnings of $1.93 per share for the full year.
About 1.06 million of the company's shares changed hands today vs. its average volume of 247,476 shares per day.
Separaetly, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and good cash flow from operations.
However, the team also finds weaknesses including generally higher debt management risk and poor profit margins.
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: BCO