NEW YORK (TheStreet) -- Panera Bread (PNRA) shares are down -6.2% to $152.90 on Wednesday following the release of the company's first quarter 2014 earnings report.
The company's stock is down despite increasing year over year quarterly revenue 8% to $605 million, and beating analysts consensus estimates of $600.7 million.
Earnings for the quarter were $1.55, which also beat analysts consensus estimates by 3 cents.
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However, the national bakery cafe lowered its full year guidance in its earnings report. The company set its full year EPS range between $6.80 and $7, taking 5 cents per share off the top end of its previous earnings expectations.
TheStreet Ratings team rates PANERA BREAD CO as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate PANERA BREAD CO (PNRA) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, notable return on equity, good cash flow from operations and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins."