The Rangers currently lead the majors in HR with 64.  That puts them on pace to hit 230, tied for 24th most in the history of baseball.

Amongst the 24 teams to have hit more than 230 HRs in a season, 17 finished with records above .500.  The overall winning percentage of these teams was .532 (86-76).  To reach 86 wins, the current Rangers would need to win 58% of their remaining games (68-49).

Switching gears...

Since the change to the divisional playoff format in 1969, 142 teams have finished May with a .400 winning percentage or worse (they finished the year with an average winning percentage of .415).  

Of those teams, four of them came back to reach the playoffs (3%).  Most recently, the Houston Astros won the Wildcard in 2005 despite starting the year off 19-32.  The others to come back from a horrible first three months were 1989 Toronto Blue Jays, the 1981 Kansas City Royals, and the 1974 Pittsburgh Pirates