NEW YORK (TheStreet) -- Rockwell Automation (ROK) - Get Report stock is declining 1.52% to $93.03 in mid-morning trading on Wednesday after the company cut its earnings and sales guidance because of the negative impact from foreign exchange rates, weak commodity prices and slowing economic growth.
The industrial automation power provider lowered its fiscal 2016 full year earnings guidance to $5.70 to $6.20 per share, down from the previous outlook of $5.90 to $6.40 per share.
Sales guidance was reduced to $5.9 billion from $6 billion for the fiscal year that ends in September.
Additionally, Milwaukee-based Rockwell Automation reported earnings of $1.49 per share on $1.43 billion in revenue for the fiscal 2016 first quarter.
Analysts had estimated earnings of $1.33 per share on $1.38 billion in revenue for the latest quarter.
"As expected, we had a weak start to the fiscal year with organic sales down 3% due to challenging market conditions in the U.S. and Asia Pacific," CEO Keith Nosbusch said in a statement. "Heavy industry end markets continued to soften globally, particularly oil and gas in the U.S."
Separately, Rockwell Automation has a "buy" rating and a letter grade of B at TheStreet Ratings because of the company's largely solid financial position, notable return on equity, good cash flow and expanding profit margins.
You can view the full analysis from the report here: ROK
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.