NEW YORK (TheStreet) -- Shares of Brinker International (EAT) are down by 5.24% to $48.87 in mid-morning trading on Tuesday, after the restaurant operator reported revenue results for the fiscal 2016 first quarter that missed analysts' expectations. Brinker also cut its sales view for the full year.
For the most recent quarter, the owner of Chili's and Maggiano's restaurant chains reported revenue of $762.6 million, missing the $774 million analysts surveyed by Thomson Reuters forecast.
Brinker's sales at established stores for the period were hurt by a reduction in customer traffic.
The company cut its revenue growth for the year by two percentage points and is now looking for a growth of 10% to 12%, the Wall Street Journal reports. Brinker's sales at established stores are expected to decline between 0.5% and 1.5% versus its previous estimate for an increase of between 1.5% to 2%.
Brinker's adjusted earnings for the period came in at 56 cents per share, topping the 55 cents per share analysts were looking for.
Separately, TheStreet Ratings team rates BRINKER INTL INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
We rate BRINKER INTL INC (EAT) a BUY. This is driven by a number of 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, good cash flow from operations, impressive record of earnings per share growth and compelling growth in net income. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: EATEAT data by YCharts