NEW YORK (TheStreet) -- Shares of Bolt Technology (BOLT) are soaring, up 35.85% to $21.87 today after the technology company announced it has agreed to a merger with Teledyne Technologies (TDY) late yesterday, in a $171 million deal.
Bolt Technology will pay its previously announced quarterly dividend of 9 cents per common share on October 2.
A national securities law firm, Tripp Levy PLLC, is seeking a higher price for Bolt Technology shareholders, and launched an investigation into the acquisition to determine if Teledyne Technologies is underpaying for Bolt shares.
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TheStreet Ratings team rates BOLT TECHNOLOGY CORP as a Buy with a ratings score of B. Highlights from the analysis by TheStreet Ratings Team goes as follows:
- BOLT TECHNOLOGY CORP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. This company has not demonstrated a clear trend in earnings over the past 2 years, making it difficult to accurately predict earnings for the coming year. During the past fiscal year, BOLT TECHNOLOGY CORP increased its bottom line by earning $0.94 versus $0.78 in the prior year.
- The revenue fell significantly faster than the industry average of 20.4%. Since the same quarter one year prior, revenues fell by 22.7%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
- The share price of BOLT TECHNOLOGY CORP has not done very well: it is down 6.17% and has underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it is one of the factors that makes this stock an attractive investment.
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Energy Equipment & Services industry. The net income has significantly decreased by 83.7% when compared to the same quarter one year ago, falling from $1.91 million to $0.31 million.
- You can view the full analysis from the report here: BOLT Ratings Report
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