Proto Labs (NYSE:PRLB) Issues Earnings Results, Misses Expectations By $0.05 EPS

Proto Labs (NYSE:PRLBGet Free Report) released its quarterly earnings data on Friday. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.05), RTT News reports. Proto Labs had a negative return on equity of 15.26% and a negative net margin of 21.20%. The business had revenue of $125.10 million during the quarter, compared to analyst estimates of $122.81 million. During the same period in the previous year, the company earned ($4.24) EPS. Proto Labs’s revenue was up 8.2% on a year-over-year basis. Proto Labs updated its Q1 guidance to $0.26-0.34 EPS and its Q1 2024 guidance to 0.260-0.340 EPS.

Proto Labs Trading Down 4.3 %

Shares of PRLB stock opened at $35.58 on Friday. The company has a market capitalization of $917.61 million, a PE ratio of 53.10 and a beta of 1.34. The firm has a fifty day simple moving average of $37.36 and a 200-day simple moving average of $32.12. Proto Labs has a twelve month low of $23.01 and a twelve month high of $41.87.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd.

Get Our Latest Report on PRLB

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Proto Labs by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 257,589 shares of the industrial products company’s stock worth $13,627,000 after purchasing an additional 3,556 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Proto Labs by 35.4% during the first quarter. MetLife Investment Management LLC now owns 14,038 shares of the industrial products company’s stock worth $743,000 after purchasing an additional 3,673 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Proto Labs by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,785 shares of the industrial products company’s stock worth $1,258,000 after purchasing an additional 2,932 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Proto Labs by 34.2% during the first quarter. Dimensional Fund Advisors LP now owns 426,194 shares of the industrial products company’s stock worth $22,547,000 after purchasing an additional 108,638 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Proto Labs during the first quarter worth $3,940,000. 83.97% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Articles

Earnings History for Proto Labs (NYSE:PRLB)

Receive News & Ratings for Proto Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proto Labs and related companies with MarketBeat.com's FREE daily email newsletter.