Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of industrial service provider Team (NYSE:TISI) dropped 17% today after reporting fourth-quarter earnings guidance.

So what: Management lowered its fiscal fourth-quarter earnings guidance to a range of $0.52 to $0.60 from an earlier $0.69 to $0.84. For fiscal 2014, it sees earnings of $2 per share on revenue of $790 million, versus Wall Street's expectation of $2.21 per share on $789 million in revenue.  

Now what: Lowering guidance is never good, but this is a huge miss, and it's not surprising to see a big drop today. Management says slower growth rates and higher field support resources have resulted in lower margins, but it thinks margins will balance out long-term. I'd be cautious today, because even $2 in earnings leaves the stock at a 16 P/E ratio, not an incredible value with growth slowing.

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Fool contributor Travis Hoium and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.