Why Popeyes Louisiana Kitchen (PLKI) Stock Is Soaring Today

NEW YORK (TheStreet) -- Popeyes Louisiana Kitchen (PLKI) stock is surging Thursday after the restaurant chain reported better-than-expected revenue and earnings in its first quarter. 

By midmorning, shares had added 10.9% to $42.22. 

Over the three months to March, the company earned 46 cents a share, a penny higher than analysts surveyed by Thomson Reuters forecast. Revenue of $70.1 million increased 16.1% year over year and exceeded estimates of $69.5 million. 

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TheStreet Ratings team rates POPEYES LOUISIANA KITCHEN as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate POPEYES LOUISIANA KITCHEN (PLKI) a BUY. This is driven by some important positives, 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, increase in stock price during the past year, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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