NEW YORK (TheStreet) -- Shares of Mobile TeleSystems (MBT - Get Report) were sliding in early-afternoon trading on Thursday after the company posted lower-than-anticipated results for the 2016 second quarter.
Before today's opening bell, the Moscow-based telecommunications company reported earnings of 14 cents per share on revenue of $1.5 billion, according to Thomson Reuters.
Analysts were expecting earnings of 21 cents per share on revenue of $1.7 billion.
"Macroeconomic factors and competitive issues continue to impact our performance in many ways, in particular voice and messaging usage in roaming, but in sum, our group revenue performance currently out-paces the market," President and CEO Andrei Dubovskov said in a statement.
Additionally, MTS now expects full-ear revenue to increase 2% to 3% vs. its prior view for growth of more than 4%.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and notable return on equity.
But the team also finds weaknesses including generally higher debt management risk and weak operating cash flow.
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: MBT