NEW YORK (TheStreet) -- Shares of Carrols Restaurant Group(TAST) - Get Report closed up by 6.56% to $14.30 on heavy trading volume on Thursday, after the Syracuse, NY-based company posted results for the fourth quarter ended January 3, 2016.
Before today's market open, the restaurant operator reported adjusted earnings of 18 cents per diluted share, topping analysts' estimates of 6 cents per share.
Revenue for the period was $229.1 million, higher than Wall Street's projections of $226.8 million.
For 2016, Carrols expects revenue between $930 million and $955 million, surpassing analysts' estimates of $892 million.
By the end of the fiscal year, the holding company owned and operated 705 Burger King restaurants.
"A strong fourth quarter performance capped off an extremely successful year at Carrols and we are very pleased with our accomplishments," CEO Daniel T. Accordino said in a statement.
"During the fourth quarter, we generated a solid 5.1% increase in comparable restaurant sales as Burger King's marketing initiatives were effective in driving sales in the face of an increasingly competitive and promotional quick-service restaurant environment," he added.
About 989,150 shares of Carrols traded hands by today, much higher than its average volume of 345,142 shares per day.
Separately, 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 - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and solid stock price performance.
As a counter to these strengths, the team also finds weaknesses including disappointing return on equity, poor profit margins and generally higher debt management risk.
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: TAST