NEW YORK (TheStreet) -- Shares of WABCO (WBC) - Get Report were sliding 6.1% to $99.28 on heavy trading volume late Thursday afternoon after the company reported lower-than-expected revenue for the 2016 third quarter.
Before today's opening bell, the vehicle control systems provider said that revenue climbed 5.2% year-over-year to $675.4 million but missed Wall Street's projections of $701.4 million for the third quarter.
Adjusted earnings per share of $1.54 for the period topped analysts' estimates for earnings of $1.48 per share.
For the full year, WABCO expects adjusted earnings per share of $5.75 to $5.85 vs. prior estimates of $5.60 per share to $5.90 per share. Wall Street is looking for earnings of $5.72 per share for the year.
The company anticipates full-year revenue of $2.80 billion to $2.83 billion, compared to its prior view of revenue between $2.78 billion and $2.86 billion. Analysts are modeling revenue of $2.83 billion for the year.
More than 1.34 million shares of the Rochester Hills, MI-based company have traded hands so far today vs. the 30-day average volume of about 477,000 shares.
Separately, 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.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
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, increase in net income, good cash flow from operations and growth in earnings per share. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: WBC