Zacks: Brokerages Expect Proto Labs (PRLB) to Announce $0.73 Earnings Per Share

Wall Street brokerages predict that Proto Labs (NYSE:PRLB) will announce $0.73 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Proto Labs’ earnings. The highest EPS estimate is $0.73 and the lowest is $0.72. Proto Labs reported earnings of $0.49 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 49%. The firm is expected to announce its next quarterly earnings report on Thursday, July 26th.

According to Zacks, analysts expect that Proto Labs will report full year earnings of $2.93 per share for the current financial year, with EPS estimates ranging from $2.91 to $2.95. For the next year, analysts anticipate that the firm will post earnings of $3.35 per share, with EPS estimates ranging from $3.24 to $3.43. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Proto Labs.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings data on Thursday, April 26th. The industrial products company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Proto Labs had a net margin of 15.49% and a return on equity of 12.88%. The business had revenue of $107.70 million during the quarter, compared to the consensus estimate of $103.88 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year.

PRLB has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Proto Labs from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Tuesday, January 23rd. ValuEngine raised shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Proto Labs currently has an average rating of “Buy” and an average target price of $98.33.

Shares of NYSE:PRLB opened at $118.60 on Friday. Proto Labs has a fifty-two week low of $116.65 and a fifty-two week high of $118.65. The stock has a market cap of $3.17 billion, a P/E ratio of 61.45, a price-to-earnings-growth ratio of 2.34 and a beta of 0.96.

In other Proto Labs news, Director John B. Goodman sold 1,114 shares of the company’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $122.71, for a total value of $136,698.94. Following the completion of the transaction, the director now owns 11,091 shares in the company, valued at approximately $1,360,976.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.64% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Capital Management LLC grew its position in Proto Labs by 2.4% in the 4th quarter. Brown Capital Management LLC now owns 3,896,579 shares of the industrial products company’s stock worth $401,348,000 after purchasing an additional 92,395 shares during the last quarter. BlackRock Inc. grew its position in Proto Labs by 3.3% in the 1st quarter. BlackRock Inc. now owns 3,154,903 shares of the industrial products company’s stock worth $370,859,000 after purchasing an additional 100,938 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Proto Labs by 16.1% in the 4th quarter. Conestoga Capital Advisors LLC now owns 588,419 shares of the industrial products company’s stock worth $60,607,000 after purchasing an additional 81,745 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Proto Labs by 4.0% in the fourth quarter. Victory Capital Management Inc. now owns 378,026 shares of the industrial products company’s stock valued at $38,937,000 after acquiring an additional 14,517 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Proto Labs by 3.8% in the first quarter. Principal Financial Group Inc. now owns 208,977 shares of the industrial products company’s stock valued at $24,565,000 after acquiring an additional 7,640 shares in the last quarter. Hedge funds and other institutional investors own 97.49% of the company’s stock.

About Proto Labs

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce enabled digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.

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