Posted by admin on May 23rd, 2022
Proto Labs (NYSE:PRLB – Get Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.35-$0.43 for the period, compared to the consensus earnings per share estimate of $0.38. The company issued revenue guidance of $123.00 million-$131.00 million, compared to the consensus revenue estimate of $127.58 million.
NYSE:PRLB opened at $45.68 on Monday. The stock’s 50 day moving average price is $47.86 and its two-hundred day moving average price is $51.09. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 36.25 and a beta of 1.43. Proto Labs has a 12-month low of $39.36 and a 12-month high of $98.26.
Proto Labs (NYSE:PRLB – Get Rating) last announced its earnings results on Friday, May 6th. The industrial products company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. The company had revenue of $124.20 million for the quarter, compared to analyst estimates of $122.03 million. Proto Labs had a return on equity of 4.19% and a net margin of 7.01%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 earnings per share. On average, equities research analysts forecast that Proto Labs will post 0.63 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on PRLB. Craig Hallum reduced their price target on Proto Labs from $56.00 to $50.00 in a research report on Monday, May 9th. StockNews.com started coverage on Proto Labs in a research report on Thursday, March 31st. They set a hold rating for the company. Finally, Zacks Investment Research raised Proto Labs from a hold rating to a buy rating and set a $50.00 price objective for the company in a research report on Thursday.
A number of hedge funds have recently modified their holdings of PRLB. Public Employees Retirement System of Ohio grew its position in shares of Proto Labs by 42.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 795 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 236 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Proto Labs during the 4th quarter valued at $314,000. Graham Capital Management L.P. grew its position in shares of Proto Labs by 8.6% during the 1st quarter. Graham Capital Management L.P. now owns 6,351 shares of the industrial products company’s stock valued at $335,000 after purchasing an additional 501 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Proto Labs by 70.0% during the 1st quarter. Hsbc Holdings PLC now owns 8,441 shares of the industrial products company’s stock valued at $448,000 after purchasing an additional 3,475 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Proto Labs during the 4th quarter valued at $483,000. 93.35% of the stock is currently owned by institutional investors and hedge funds.
About Proto Labs (Get Rating)
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven 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.
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.
Alight (NYSE:ALIT) Issues FY 2022 Earnings Guidance
Financial Analysis: Tivic Health Systems (NASDAQ:TIVC) vs. Nuwellis (NASDAQ:NUWE)