Proto Labs (NYSE:PRLB) Updates Q1 2024 Earnings Guidance

Proto Labs (NYSE:PRLBGet Free Report) updated its first quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.260-0.340 for the period, compared to the consensus earnings per share estimate of 0.340. The company issued revenue guidance of $120.0 million-$128.0 million, compared to the consensus revenue estimate of $127.7 million. Proto Labs also updated its Q1 guidance to $0.26-0.34 EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Proto Labs from a buy rating to a strong-buy rating in a report on Friday, February 2nd.

View Our Latest Research Report on Proto Labs

Proto Labs Stock Down 4.3 %

Shares of PRLB stock opened at $35.58 on Monday. Proto Labs has a twelve month low of $23.01 and a twelve month high of $41.87. The stock has a market cap of $917.61 million, a price-to-earnings ratio of 53.10 and a beta of 1.34. The business’s fifty day moving average is $37.36 and its 200 day moving average is $32.11.

Proto Labs (NYSE:PRLBGet Free Report) last released its earnings results on Friday, February 9th. The industrial products company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Proto Labs had a return on equity of 2.51% and a net margin of 3.42%. The company had revenue of $125.10 million during the quarter, compared to analysts’ expectations of $122.81 million. During the same period in the prior year, the company posted ($4.24) earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Equities research analysts expect that Proto Labs will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Proto Labs

Several institutional investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC bought a new position in Proto Labs in the first quarter valued at about $219,000. Point72 Middle East FZE bought a new position in shares of Proto Labs in the second quarter worth about $217,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Proto Labs in the fourth quarter worth about $206,000. Royal Bank of Canada raised its stake in shares of Proto Labs by 20.1% in the second quarter. Royal Bank of Canada now owns 3,575 shares of the industrial products company’s stock worth $125,000 after buying an additional 599 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Proto Labs by 481.2% in the third quarter. Tower Research Capital LLC TRC now owns 4,574 shares of the industrial products company’s stock worth $121,000 after buying an additional 3,787 shares during the period. 83.97% of the stock is owned by hedge funds and other institutional investors.

About Proto Labs

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Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.

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