NEW YORK (TheStreet) -- Textura Corp. (TXTR) stock is retreating 22.72% to $22.74 on heavy trading volume on Tuesday afteroon after the company reduced its full year earnings guidance and reported mixed financial results for the 2015 third quarter.
After the market close on Monday, the company lowered its adjusted earnings to 16 cents to 19 cents per diluted share, down from 18 cents to 21 cents per share.
Revenue guidance was reduced to $86 million to $87 million, down from the previous outlook of $88 million to $92 million.
Textura reported earnings of 7 cents per share on revenue of $22.51 million for the third quarter, while analysts surveyed by Thomson Reuters had estimated earnings of 6 cents per share on $22.97 million in revenue.
Additionally, Textura's stock rating was downgraded to "perform" from "outperform" at Oppenheimer this morning before the market open, because of the lower outlook, according to The Fly.
The Deerfield, IL-based company provides software to increase productivity and collaborations in the construction industry.
So far today, 2.6 million shares of Textura have exchanged hands, compared with its average daily volume of 151,842 shares.
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