Zacks: Brokerages Expect Proto Labs Inc (NYSE:PRLB) Will Announce Quarterly Sales of $116.40 Million

Brokerages expect Proto Labs Inc (NYSE:PRLB) to post $116.40 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Proto Labs’ earnings. The highest sales estimate is $117.00 million and the lowest is $115.90 million. Proto Labs posted sales of $109.65 million in the same quarter last year, which suggests a positive year over year growth rate of 6.2%. The firm is scheduled to report its next earnings results before the market opens on Thursday, July 25th.

According to Zacks, analysts expect that Proto Labs will report full year sales of $477.36 million for the current year, with estimates ranging from $470.68 million to $481.20 million. For the next year, analysts anticipate that the business will report sales of $533.50 million, with estimates ranging from $513.71 million to $548.00 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Proto Labs.

Proto Labs (NYSE:PRLB) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.08. The company had revenue of $113.50 million during the quarter, compared to analysts’ expectations of $115.24 million. Proto Labs had a net margin of 16.41% and a return on equity of 13.86%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share.

PRLB has been the topic of several analyst reports. ValuEngine raised shares of Proto Labs from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised shares of Proto Labs from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $134.00.

NYSE PRLB traded down $0.42 on Wednesday, hitting $108.41. 4,851 shares of the stock were exchanged, compared to its average volume of 179,393. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.89 and a quick ratio of 4.67. The business has a fifty day simple moving average of $105.69. Proto Labs has a 52 week low of $94.20 and a 52 week high of $166.60. The stock has a market capitalization of $2.95 billion, a P/E ratio of 38.72, a PEG ratio of 1.40 and a beta of 1.58.

Hedge funds and other institutional investors have recently bought and sold shares of the business. D.B. Root & Company LLC bought a new position in shares of Proto Labs in the first quarter valued at about $350,000. Tower View Investment Management & Research LLC raised its position in shares of Proto Labs by 2.7% in the first quarter. Tower View Investment Management & Research LLC now owns 8,530 shares of the industrial products company’s stock valued at $897,000 after purchasing an additional 225 shares during the period. State of Tennessee Treasury Department raised its position in shares of Proto Labs by 7.7% in the fourth quarter. State of Tennessee Treasury Department now owns 18,169 shares of the industrial products company’s stock valued at $2,050,000 after purchasing an additional 1,296 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in shares of Proto Labs by 34.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 166,743 shares of the industrial products company’s stock valued at $17,531,000 after purchasing an additional 42,323 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Proto Labs by 12.4% in the fourth quarter. Geode Capital Management LLC now owns 290,264 shares of the industrial products company’s stock valued at $32,738,000 after purchasing an additional 31,984 shares during the period. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

About Proto Labs

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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