Krispy Kreme Doughnuts (KKD) Stock Soaring Following Earnings Release

NEW YORK (TheStreet) -- Shares of Krispy Kreme Doughnuts (KKD) are soaring, up 6.03% to $18.45 in pre-market trading Thursday, following the doughnut maker's mixed fiscal first quarter earnings report, released after the market closed on Wednesday.

For the quarter, Krispy Kreme earned of 24 cents per share, topping analysts' estimates of 22 cents per share, according to Thomson Reuters.

Revenue rose 9% from a year ago to $132.47 million, missing analysts' estimates of $136.99 million for the period.

The company reported a 5.3% increase in domestic same store sales for the first quarter, including a 4.3% increase at company stores.

Additionally, Krispy Kreme narrowed its earnings estimates for fiscal 2016.

For the full year, the company sees earnings in a range of between 80 cents to 85 cents per share from its previous range of between 79 cents to 85 cents per share.

Analysts polled by Thomson Reuters are expecting Krispy Kreme to earn 84 cents per share for the year.

Shares closed at $17.40 in yesterday's session.

Winston Salem, N.C.-based Krispy Kreme Doughnuts is a retailer and wholesaler of doughnuts, beverages, and treats and packaged sweets.

The company sells a variety doughnuts such as yeast-raised doughnuts, cake doughnuts and crullers.

Separately, TheStreet Ratings team rates KRISPY KREME DOUGHNUTS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate KRISPY KREME DOUGHNUTS INC (KKD) a BUY. This is driven by several positive factors, 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, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and increase in stock price during the past year. We feel its strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: KKD Ratings Report

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