NEW YORK (TheStreet) -- Shares of Bob Evans Farms (BOBE) are falling 8.74% to $40.83 on heavy trading volume midday Wednesday after the New Albany, OH-based company provided a weak outlook for fiscal 2017.

After yesterday's market close, the restaurant company said it forecasts earnings per share between $2 and $2.15 on revenue of $1.28 billion to $1.33 billion for the full year.

Analysts are modeling earnings of $2.19 per share on revenue of $1.32 billion.

Additionally, the company said it expects flat to negative low-single digit same-store sales in fiscal 2017, while analysts see an increase of 0.5%.

For the 2016 fiscal fourth quarter, Bob Evans reported adjusted earnings of 48 cents per diluted share, topping Wall Street's expectations of 43 cents per share.

Revenue for the quarter was $345.6 million, above estimates of $345.3 million.

Same-store sales declined 3%, while analysts were expecting a decrease of 2.2%.

Oppenheimer maintained its "outperform" rating and $50 price target on the stock after the results.

"Positive comps is the recipe for earnings upside, gives credibility to a SOTP valuation framework (with food products) and is required for us to get bullish, near- term. August's new menu and easy comparisons could help, but until confidence in positive trends emerges, the stock remains stuck in a range," the firm wrote in an analyst note earlier today.

About 750,013 of the company's shares changed hands so far today vs. its average volume of 242,217 shares per day.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.

The company's strengths can be seen in multiple areas, such as its compelling growth in net income, good cash flow from operations, impressive record of earnings per share growth and notable return on equity.

The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that were evaluated.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: BOBE