Zacks: Brokerages Anticipate Proto Labs Inc (PRLB) Will Post Quarterly Sales of $116.40 Million

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Wall Street analysts expect Proto Labs Inc (NYSE:PRLB) to report $116.40 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Proto Labs’ earnings, with the lowest sales estimate coming in at $115.90 million and the highest estimate coming in at $117.00 million. Proto Labs posted sales of $109.65 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The business is expected to announce its next earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Proto Labs will report full year sales of $477.36 million for the current fiscal year, with estimates ranging from $470.68 million to $481.20 million. For the next year, analysts anticipate that the firm 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 research firms that that provide coverage for Proto Labs.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.08. The company had revenue of $113.50 million during the quarter, compared to the consensus estimate of $115.24 million. Proto Labs had a return on equity of 13.86% and a net margin of 16.41%. The firm’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 EPS.

A number of equities analysts have recently commented on PRLB shares. Piper Jaffray Companies cut their price objective on shares of Proto Labs to $98.00 and set a “neutral” rating for the company in a research report on Thursday, February 7th. ValuEngine lowered shares of Proto Labs from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Zacks Investment Research lowered shares of Proto Labs from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Proto Labs has an average rating of “Hold” and an average price target of $134.00.

Several hedge funds have recently added to or reduced their stakes in PRLB. Executive Wealth Management LLC bought a new position in shares of Proto Labs in the fourth quarter valued at approximately $30,000. Parallel Advisors LLC bought a new position in shares of Proto Labs in the first quarter valued at approximately $34,000. Brand Asset Management Group Inc. bought a new position in shares of Proto Labs in the first quarter valued at approximately $45,000. Icon Wealth Partners LLC bought a new position in shares of Proto Labs in the first quarter valued at approximately $57,000. Finally, Nikko Asset Management Americas Inc. boosted its position in shares of Proto Labs by 530.8% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 656 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 552 shares during the period. Institutional investors own 93.39% of the company’s stock.

PRLB stock opened at $108.72 on Friday. The firm has a market cap of $2.96 billion, a PE ratio of 38.69, a PEG ratio of 1.35 and a beta of 1.60. Proto Labs has a fifty-two week low of $94.20 and a fifty-two week high of $166.60.

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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