NEW YORK (TheStreet) -- DigitalGlobe (DGI)  stock is plummeting 24.72% to $14.98 on heavy volume in midday trading on Friday, after lowering 2015 full-year guidance following the release of 2015 third quarter revenue that fell short of analysts' expectations. 

The  geospatial information products and services provider posted earnings of 12 cents per share for the most recent quarter, in line with analysts' estimates.

Revenue increased 12.1%, to $173.3 million from $154.6 in the 2014 third quarter. Analysts had forecast for revenue of $179.5 million.

DigitalGlobe lowered its full-year 2015 revenue forecast to a range between $685 million and $700 million, down from a range between $725 million and $750 million. The company lowered its full-year earnings guidance to a range between $330 million and $345 million, down from a prior range between $355 million and $375 million.

"While we have lowered our guidance, we are confident in our ability to continue to drive margin expansion and strong free cash flows," CEO Jeffrey Tarr said in a statement. "We are also firmly committed to returning capital to shareowners, as evidenced by our board's decision, announced today, to increase our share repurchase authorization from $205 million to $335 million."

About 5.25 million shares of DigitalGlobe have been traded so far today, well above the company's average trading volume of roughly 542,375 shares a day.

Separately, TheStreet Ratings team rates DIGITALGLOBE INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

We rate DIGITALGLOBE INC (DGI) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity.

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

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