Zacks: Analysts Expect Proto Labs, Inc. (PRLB) Will Announce Quarterly Sales of $85.53 Million
Analysts expect Proto Labs, Inc. (NYSE:PRLB) to report $85.53 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Proto Labs’ earnings, with the lowest sales estimate coming in at $85.30 million and the highest estimate coming in at $85.99 million. Proto Labs reported sales of $78.17 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.4%. The company is scheduled to announce its next quarterly 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 company will report sales of $369.60 million per share, with estimates ranging from $366.39 million to $374.31 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Proto Labs.
Proto Labs (NYSE:PRLB) last released its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The company had revenue of $82.04 million for the quarter, compared to analysts’ expectations of $80.49 million. Proto Labs had a return on equity of 11.75% and a net margin of 14.59%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share.
Several research firms recently issued reports on PRLB. Piper Jaffray Companies restated a “hold” rating and set a $67.00 price target on shares of Proto Labs in a research report on Friday, July 28th. Zacks Investment Research lowered Proto Labs from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Dougherty & Co upgraded Proto Labs from a “sell” rating to a “neutral” rating in a research report on Tuesday, June 27th. Finally, TheStreet upgraded Proto Labs from a “c+” rating to a “b-” rating in a research report on Friday, May 5th. Four research 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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In other news, Director Rainer Gawlick sold 833 shares of Proto Labs stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $64.05, for a total value of $53,353.65. Following the sale, the director now directly owns 6,258 shares in the company, valued at approximately $400,824.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert Bodor sold 741 shares of Proto Labs stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $73.84, for a total value of $54,715.44. Following the completion of the sale, the vice president now owns 17,319 shares in the company, valued at $1,278,834.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,833 shares of company stock worth $342,782. Corporate insiders own 7.78% of the company’s stock.
Several large investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of Proto Labs by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 2,690 shares of the industrial products company’s stock worth $137,000 after buying an additional 60 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Proto Labs by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the industrial products company’s stock worth $506,000 after buying an additional 100 shares during the last quarter. Texas Permanent School Fund boosted its position in Proto Labs by 0.7% in the second quarter. Texas Permanent School Fund now owns 17,797 shares of the industrial products company’s stock worth $1,197,000 after buying an additional 127 shares during the last quarter. Legal & General Group Plc boosted its position in Proto Labs by 0.4% in the first quarter. Legal & General Group Plc now owns 42,259 shares of the industrial products company’s stock worth $2,160,000 after buying an additional 166 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Proto Labs by 1.6% in the first quarter. Arizona State Retirement System now owns 12,700 shares of the industrial products company’s stock worth $649,000 after buying an additional 200 shares during the last quarter.
Shares of Proto Labs (PRLB) opened at 73.85 on Wednesday. Proto Labs has a 12-month low of $43.10 and a 12-month high of $75.25. The company has a market capitalization of $1.97 billion, a PE ratio of 42.94 and a beta of 0.93. The stock’s 50 day moving average price is $68.79 and its 200 day moving average price is $59.11.
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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