NEW YORK (TheStreet) -- Shares of Emerson Electric (EMR) were declining in pre-market trading on Tuesday after the company posted weaker-than-expected revenue for the 2016 fiscal fourth quarter and gave a downbeat outlook.
Before the opening bell, the St. Louis-based engineering services provider reported sales of $3.9 billion. Adjusted revenue was $5.5 billion. Wall Street was projecting revenue of $5.52 billion.
Adjusted earnings of 96 cents per share exceeded analysts' estimates of 89 cents per share.
"Fiscal 2016 was a significantly more challenging year than expected," CEO David Farr said in a statement.
For fiscal 2017, Emerson sees earnings per share between $2.35 and $2.50. Analysts surveyed by Thomson Reuters are forecasting full-year earnings of $2.55 cents per share.
"We expect 2017 to be another challenging year in what has become an unprecedentedly long industrial downturn characterized by market volatility, economic uncertainty and lower industrial spending," Far added.
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 expanding profit margins, good cash flow from operations, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity.
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.