NEW YORK (TheStreet) --Shares of Bob Evans Farms (BOBE) are higher by 2.65% to $48.76 in after-hours trading on Tuesday, after the company reported its fiscal 2015 fourth quarter earnings results which came in above what analysts were expecting for the period.
The company, which operates restaurants under the Bob Evans, Owens and Country Creek brand names, said its fourth quarter non-GAAP net income was 56 cents per diluted share.
Analysts polled by Thomson Reuters were expecting earnings of 41 cents per share.
Last year, the company reported earnings of 48 cents per share for the fiscal 2014 fourth quarter.
Net sales grew by 1.8% year-over-year to $332.4 million versus the $330.97 million analysts had forecast.
"During the fourth quarter and into early fiscal 2016, we continued to intensify our focus on execution and efficiency in all aspects of our operations at Bob Evans. While there is much work to be done to achieve the full potential of Bob Evans, we are encouraged by our early progress," company CFO Mark Hood said in a statement.
Separately, TheStreet Ratings team rates BOB EVANS FARMS as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOB EVANS FARMS (BOBE) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and disappointing return on equity."