Diebold Nixdorf Falls 20% After Lower 2017 Guidance

Diebold Nixdorf Inc DBD shares are trading lower by $5.75 (20.3 percent) at $22.25 in Wednesday's session.

The catalyst for the major decline is the company's reduced FY 2017 EPS and sales guidance. EPS was reduced to $0.95-$1.15 vs. $1.59 estimates and sales guidance was reduced to $4.7-$4.9 billion vs. $4.99 billion estimates.

After a much lower open, it only managed a 20-cent bounce to $25.00 before continuing its move lower. The ensuing decline took the stock to $21.75 but rebounded back into the $22.00 handle.

The current low coincides with its December low of $21.92.