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NEW YORK (TheStreet) -- Chipotle Mexican Grill (CMG)  shares are tumbling 2% to $437 in after-hours trading on Tuesday immediately after the burrito maker posted weak 2016 first quarter financial results that came in lower than Wall Street's expectations. 

Earnings of 88 cents a share missed forecasts of 94 cents a share, and was significantly below last year's earnings of $3.99 share. 

Revenue of $834.5 million also fell short of projections of $868.52 million and was down from the $1.09 billion it reported a year ago.

Comparable-store sales at locations open for at least one year plunged 29.7% year-over-year, while analysts were looking for a 28.4% drop. 

These results come as the company's sales have been battered by E. coli outbreaks and foodborne illnesses linked to its restaurants late last year. Since then, the company has been trying to recover lost customers with freebies and coupons, hoping to gain back their trust. 

"As our sales are on a gradual path to recovery, we remain focused on our mission of changing the way people think about and eat fast food,"  founder, Chairman and co-CEO Steve Ells stated. "The best approach to re-building our business is to proudly serve safe and delicious food in our high-quality restaurants every single day, which is exactly what we will continue to do."

Separately, TheStreet Ratings currently has a "Hold" rating on the stock with a letter grade of C+.

The company's strengths can be seen in multiple areas, such as its notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income 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 article's author.

You can view the full analysis from the report here: CMG

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