NEW YORK (TheStreet) -- Shares of Lumber Liquidators Holdings Inc. (LL) are plummeting -19.40% to $56.76 on heavy volume in mid-afternoon trading on Thursday, continuing the decline it began in the pre-market session following the company's announcement that it cut its 2014 full year earnings outlook.
The retailer of hardwood floors and other accessories said it is now expecting earnings per diluted share to be between $2.65 and $3.00 versus its previous full year guidance of earnings between $3.25 and $3.60.
Lumber Liquidators said revenue for the 2014 full year is forecasted to be between $1.05 billion and $1.10 billion, compared to its previous estimate between $1.15 billion, and $1.20 billion.
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Separately, TheStreet Ratings team rates LUMBER LIQUIDATORS HLDGS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate LUMBER LIQUIDATORS HLDGS INC (LL) 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, notable return on equity, good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."