Brokerages Anticipate Proto Labs, Inc. (PRLB) Will Post Quarterly Sales of $85.53 Million
Wall Street analysts expect Proto Labs, Inc. (NYSE:PRLB) to announce sales of $85.53 million for the current quarter, Zacks reports. Three analysts have provided estimates for Proto Labs’ earnings. The highest sales estimate is $85.99 million and the lowest is $85.30 million. Proto Labs posted sales of $78.17 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.4%. The firm is expected to report its next earnings report on Thursday, October 26th.
On average, analysts expect that Proto Labs will report full-year sales of $85.53 million for the current fiscal year, with estimates ranging from $333.89 million to $336.70 million. For the next fiscal year, analysts anticipate that the business will post sales of $369.60 million per share, with estimates ranging from $366.39 million to $374.31 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Proto Labs.
Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. Proto Labs had a return on equity of 11.75% and a net margin of 14.59%. The firm had revenue of $82.04 million during the quarter, compared to analysts’ expectations of $80.49 million. During the same quarter last year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis.
A number of equities research analysts have issued reports on the stock. Piper Jaffray Companies reissued a “hold” rating and set a $67.00 target price on shares of Proto Labs in a research note on Friday, July 28th. Zacks Investment Research lowered shares of Proto Labs from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Dougherty & Co raised shares of Proto Labs from a “sell” rating to a “neutral” rating in a research note on Tuesday, June 27th. Finally, TheStreet raised shares of Proto Labs from a “c+” rating to a “b-” rating in a research note on Friday, May 5th. Four analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average price target of $60.75.
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Proto Labs (NYSE:PRLB) traded up 1.57% during midday trading on Friday, hitting $71.20. The company had a trading volume of 179,827 shares. The stock’s 50-day moving average price is $71.52 and its 200-day moving average price is $61.50. The stock has a market cap of $1.89 billion, a PE ratio of 41.40 and a beta of 0.93. Proto Labs has a 52-week low of $43.10 and a 52-week high of $75.55.
In related news, VP Robert Bodor sold 3,259 shares of Proto Labs stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $72.02, for a total value of $234,713.18. Following the transaction, the vice president now owns 19,837 shares in the company, valued at approximately $1,428,660.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.78% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Gs Investments Inc. purchased a new position in shares of Proto Labs during the second quarter valued at approximately $6,158,000. Lord Abbett & CO. LLC purchased a new position in shares of Proto Labs during the second quarter valued at approximately $21,351,000. Grandeur Peak Global Advisors LLC increased its position in shares of Proto Labs by 2.6% in the second quarter. Grandeur Peak Global Advisors LLC now owns 43,375 shares of the industrial products company’s stock valued at $2,917,000 after buying an additional 1,100 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Proto Labs during the second quarter valued at approximately $354,000. Finally, Summit Partners Public Asset Management LLC purchased a new position in shares of Proto Labs during the second quarter valued at approximately $2,018,000.
Proto Labs Company Profile
Proto Labs, Inc is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company’s geographic segments include the United States, Europe and Japan.
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