Bob Evans shares decline after revenue miss
Bob Evans Farms Inc. shares fell in the extended session Tuesday after the restaurant chain fell short of Wall Street estimates on revenue for the quarter. Bob Evans shares declined 4.1% to $38.25. The company reported adjusted fiscal second-quarter earnings of 41 cents a share on revenue of $325 million. Analysts surveyed by FactSet had forecast 39 cents a share on revenue of $329.1 million. Bob Evans said its board approved a 10% dividend hike to 34 cents a share and a $100 million increase to the company's stock buyback program. For the year, the company forecast adjusted earnings of $1.85 to $2 a share. Analysts forecast $1.94 a share.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.