Proto Labs Inc (PRLB) Expected to Announce Quarterly Sales of $116.29 Million

Brokerages expect that Proto Labs Inc (NYSE:PRLB) will report sales of $116.29 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Proto Labs’ earnings, with the lowest sales estimate coming in at $115.77 million and the highest estimate coming in at $117.00 million. Proto Labs posted sales of $107.75 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.9%. The company is scheduled to announce its next quarterly earnings results on Thursday, April 25th.

According to Zacks, analysts expect that Proto Labs will report full year sales of $491.85 million for the current year, with estimates ranging from $480.06 million to $499.10 million. For the next year, analysts anticipate that the firm will post sales of $555.48 million, with estimates ranging from $525.24 million to $573.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Proto Labs.

Proto Labs (NYSE:PRLB) last released its earnings results on Thursday, February 7th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.06). Proto Labs had a net margin of 17.19% and a return on equity of 14.73%. The business had revenue of $112.80 million during the quarter, compared to the consensus estimate of $115.40 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue was up 19.7% on a year-over-year basis.

PRLB has been the topic of a number of recent analyst reports. Northcoast Research initiated coverage on Proto Labs in a research report on Wednesday, December 12th. They issued a “buy” rating and a $145.00 target price on the stock. Piper Jaffray Companies decreased their target price on Proto Labs to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, February 7th. ValuEngine cut Proto Labs from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Zacks Investment Research cut Proto Labs from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Proto Labs presently has a consensus rating of “Hold” and a consensus price target of $134.00.

Proto Labs stock traded up $1.44 during midday trading on Monday, reaching $107.25. The company’s stock had a trading volume of 168,113 shares, compared to its average volume of 181,556. Proto Labs has a 52 week low of $94.20 and a 52 week high of $166.60. The stock has a market cap of $2.86 billion, a PE ratio of 38.17, a P/E/G ratio of 1.24 and a beta of 1.63.

Several large investors have recently added to or reduced their stakes in PRLB. Hardy Reed LLC acquired a new position in shares of Proto Labs in the fourth quarter worth approximately $258,000. Vanguard Group Inc. lifted its stake in shares of Proto Labs by 4.0% in the third quarter. Vanguard Group Inc. now owns 2,625,466 shares of the industrial products company’s stock worth $424,668,000 after acquiring an additional 100,343 shares during the period. Riverhead Capital Management LLC lifted its stake in shares of Proto Labs by 24.4% in the third quarter. Riverhead Capital Management LLC now owns 2,552 shares of the industrial products company’s stock worth $413,000 after acquiring an additional 500 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Proto Labs by 4.7% in the fourth quarter. Handelsbanken Fonder AB now owns 419,126 shares of the industrial products company’s stock worth $47,273,000 after acquiring an additional 18,890 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Proto Labs by 9.7% in the third quarter. Bank of New York Mellon Corp now owns 372,470 shares of the industrial products company’s stock worth $60,247,000 after acquiring an additional 33,022 shares during the period. Institutional investors own 91.69% of the company’s stock.

Proto Labs Company Profile

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven 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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