Proto Labs (NYSE:PRLB) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Proto Labs (NYSE:PRLBGet Free Report) issued its earnings results on Friday. The industrial products company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05), RTT News reports. The business had revenue of $125.10 million for the quarter, compared to the consensus estimate of $122.81 million. Proto Labs had a negative return on equity of 15.26% and a negative net margin of 21.20%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($4.24) earnings per share. 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 Stock Performance

PRLB stock opened at $35.58 on Friday. The firm has a 50 day simple moving average of $37.36 and a 200 day simple moving average of $32.13. Proto Labs has a 52 week low of $23.01 and a 52 week high of $41.87.

Institutional Investors Weigh In On Proto Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Proto Labs during the 2nd quarter worth about $29,000. Quantbot Technologies LP acquired a new stake in Proto Labs in the second quarter valued at approximately $30,000. International Assets Investment Management LLC grew its position in Proto Labs by 3,795.7% in the fourth quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 873 shares in the last quarter. State of Wyoming grew its position in Proto Labs by 40.0% in the fourth quarter. State of Wyoming now owns 1,505 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 430 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Proto Labs during the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 83.97% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Proto Labs from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $38.33.

Read Our Latest Stock Analysis on PRLB

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.

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Earnings History for Proto Labs (NYSE:PRLB)

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