NEW YORK (TheStreet) -- Tupperware Brands (TUP) shares are tanking, down -8.9% to $77.19 on Wednesday, after the company lowered its full year guidance following worse than expected second quarter earnings results.
The food storage container manufacturer's quarterly profits fell 38% to $47.6 million, or 93 cents per diluted share, from the previous year's mark of $76.3 million, or $1.43 per diluted share.
Analysts were expecting earnings of $1.47 per share during the quarter.
The company also lowered its full year earnings guidance in turn, down to between $5.40 and $5.50 per diluted share from its previous expectations of between $5.66 and $5.81 per diluted share.
TheStreet Ratings team rates TUPPERWARE BRANDS CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TUPPERWARE BRANDS CORP (TUP) 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, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
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