Ruby Tuesday, Inc. (RT) stock fell hard on Tuesday following its fiscal Q3 2016 earnings report.
Ruby Tuesday reported earnings per share of 3 cents for its third quarter of 2016. This is the same as it reported during the year prior, but it failed to meet analysts’ estimate of 5 cents per share.
Revenue reported by Ruby Tuesday during Q3 2016 was $271.5 million, which is down roughly 5% from the third quarter of 2015. It also didn’t match up with the $284.1 million that Wall Street was expecting from the company.
Ruby Tuesday also updated its fiscal 2016 EPS to between 5 cents and 8 cents. It’s previous expectation had EPS ranging from 12 cents to 17 cents. Analysts are expecting EPS of 12 cents for fiscal 2016.
RT stock was down 12% as of Noon Friday.
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