NEW YORK (TheStreet) -- Shares of Monro Muffler Brake (MNRO) are falling 7.85% to $61.72 on heavy trading volume on Thursday afternoon after the company reported weaker-than-expected results for the 2016 fiscal fourth quarter and provided a downbeat outlook.
Before today's market open, the Rochester, NY-based automotive repair company posted earnings of 42 cents per share, below analysts' projections of 45 cents per share.
Revenue increased 4.5% to $229 million year-over-year, but missed analysts' estimates of $238.6 million.
Analysts are modeling earnings of $2.46 per share on revenue of $1.04 billion.
For the 2017 fiscal first quarter, the company sees earnings per share in the range of 47 cents to 51 cents on revenue of $230 million to $240 million.
Analysts are looking for earnings of 68 cents per share on revenue of $260 million.
"Continuing weak consumer spending and unfavorable weather conditions have adversely impacted sales as we start our new fiscal year, with comparable store sales down 8% quarter-to-date," CEO John Van Heel said in a statement.
But the company expects sales to improve as the year progresses.
About 1.39 million of the company's shares changed hands so far today compared to its average volume of 161,348 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance.
The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
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: MNRO