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NEW YORK (TheStreet) -- Raven Industries (RAVN)  stock is plummeting 20.04% to $13.25 on heavy trading volume Thursday afternoon following the company's fiscal 2016 fourth quarter financial results, reported earlier this morning. 

Earnings for the latest quarter came in at 3 cents a share, far below estimates of 11 cents a share and lower than 16 cents a share in earned a year ago.

Revenue plunged 41.2% to $52.8 million and missed forecasts of $62.8 million.

In the recent quarter, weak commodity market conditions reduced demand for both of the company's applied technology and engineered films segments.

Along with its lower-than-expected earnings, the company made grim remarks about the current year. 

"As we begin fiscal year 2017, the markets served by our core businesses remain very challenging," CEO Dan Rykhus stated.

However, the company said since it has dealt with lower oil and gas prices impacting drilling activity in fiscal 2016, it's in a much better position to battle these shortcomings this year.

As of 2:45 p.m., about 1.06 million shares had changed hands, more than six times its original trading volume of about 170,000 shares. 

Based in Sioux Falls, SD, Raven Industries provides various products to customers in the industrial, agricultural, energy, construction, and military/aerospace markets worldwide.

Separately, TheStreet Ratings currently has a "Hold" rating on the stock with a letter grade of C. 

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

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' author.

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

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