NEW YORK (TheStreet) -- Shares of Roper Technologies (ROP) - Get Report are tumbling 6.13% to $162.68 on heavy trading volume late Monday morning after the company posted weaker-than-expected results for the 2016 second quarter and provided disappointing guidance.
Before today's market open, the Sarasota, FL-based diversified tech company reported adjusted earnings of $1.56 per diluted share, below analysts' estimates of $1.61 per share.
Revenue came in at $931.6 million, which fell short of analysts' projections of $948.2 million.
"Continued weakness in oil and gas and some traffic project delays impacted our results, while the balance of our businesses performed well in the quarter," CEO Brian Jellison said in a statement.
For 2016, Roper forecasts adjusted earnings per diluted share between $6.57 and $6.71. Analysts are looking for earnings of $6.93 per share for the full year.
The company also sees revenue in the second half of the year as increasing 7% to 9%, including organic growth of 2% to 4%.
For the third quarter, Roper sees earnings per diluted share between $1.59 and $1.63. Analysts are expecting earnings of $1.83 per share.
About 1.93 million of the company's shares changed hands so far today vs. its average 30-day volume of 514,034 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.
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 expanding profit margins.
The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
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's author.
You can view the full analysis from the report here: ROP