Here’s Why Blucora (BCOR) Stock Is Plunging Today

NEW YORK (TheStreet) -- Shares of Blucora (BCOR) are plummeting 20.09% to $10.38 on heavy trading volume Thursday afternoon after the company reported weaker-than-anticipated revenue for the 2016 second quarter and provided a downbeat outlook.

Before today's market open, the Bellevue, WA-based company posted revenue of $120.1 million, below analysts' estimates of $123.6 million. 

Adjusted earnings of 55 cents per share topped analysts' expectations of 52 cents per share.

For the third quarter, Blucora foresees an adjusted loss per share between 30 cents and 36 cents on revenue of $77 million to $81 million. Analysts are looking for a loss of 23 cents per share on revenue of $84.8 million.

In 2016, the company expects adjusted earnings per share between 84 cents and 96 cents on revenue of $440.5 million to $451.5 million. Analysts are modeling earnings of $1.01 per share on revenue of $461.4 million.

Blucora is provider of technology-enabled financial solutions for consumers, small business owners and tax professionals.

About 2.67 million of the company's shares were traded so far today vs. its average 30-day volume of 642,694 shares per day.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.

The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and generally disappointing historical performance in the stock itself.

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: BCOR

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