Proto Labs (NYSE:PRLB) Updates Q1 Earnings Guidance

Proto Labs (NYSE:PRLBGet Free Report) issued an update on its first quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.26-0.34 for the period, compared to the consensus earnings per share estimate of $0.37. The company issued revenue guidance of $120-128 million, compared to the consensus revenue estimate of $129.62 million. Proto Labs also updated its Q1 2024 guidance to 0.260-0.340 EPS.

Proto Labs Trading Down 4.3 %

Shares of PRLB 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 firm has a market capitalization of $917.61 million, a P/E ratio of 53.10 and a beta of 1.34. The stock’s fifty day simple moving average is $37.36 and its 200 day simple moving average is $32.11.

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

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on Proto Labs

Hedge Funds Weigh In On Proto Labs

A number of hedge funds have recently bought and sold shares of the company. UBS Group AG grew its stake in Proto Labs by 9.9% in the second quarter. UBS Group AG now owns 2,378 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 215 shares in the last quarter. State of Wyoming grew its stake in Proto Labs by 40.0% in the fourth quarter. State of Wyoming now owns 1,505 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 430 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Proto Labs by 6.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 8,537 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 482 shares in the last quarter. Graham Capital Management L.P. grew its stake in Proto Labs by 8.6% in the first quarter. Graham Capital Management L.P. now owns 6,351 shares of the industrial products company’s stock worth $335,000 after purchasing an additional 501 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in 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 purchasing an additional 599 shares in the last quarter. 83.97% of the stock is currently owned by institutional investors and hedge funds.

Proto Labs Company Profile

(Get Free Report)

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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