NEW YORK (TheStreet) -- Shares of Noodles & Company (NDLS) were tanking, sharply down 18.64% to $16.85 in after-hours trading on Tuesday, following the company's disappointing first quarter 2015 earnings results.
The company earned 3 cents per share, missing the consensus estimate of 5 cents per share, according to analysts polled by Thomson Reuters.
Revenue came in at $105.8 million for the quarter, also lower compared to the consensus estimate of $108.74 million.
The company reported a rise in comparable restaurant sales of 0.8% for company-owned restaurants, a rise of 1.4% for franchise restaurants and a rise of 0.9% system-wide.
Broomfield, CO-based Noodles & Co. is a casual restaurant concept offering lunch and dinner.
The company offers a variety of cooked-to-order dishes, including noodles and pasta, soups, salads and sandwiches.
"We rate NOODLES & CO (NDLS) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and poor profit margins."
You can view the full analysis from the report here: NDLS Ratings Report