According to Zacks, “3D Systems disappointed with weak first-quarter 2019 results wherein revenues declined year over year and loss widened. The company is hurt by a disruption in shipments of its metal printers, due to a technical glitch. Moreover, last year’s large orders from Align are likely to pose a key challenge throughout the current year. Soft sales in on-demand manufacturing due to lower demand from the automotive industry in Europe and business alignments related to export compliance and outsourcing are a downside. Further, although unit shipments show steady rapid growth, growing demand for lower-priced products is denting 3D System’s top line. Shares of the company have underperformed its industry in the past year. However, the company’s cost-control initiative and its decision to exit the entertainment business are likely to boost its bottom line, going forward.”
A number of other analysts have also recently issued reports on the company. Piper Jaffray Companies upgraded 3D Systems from a neutral rating to an overweight rating and set a $17.00 target price for the company in a report on Tuesday, January 29th. JPMorgan Chase & Co. decreased their target price on 3D Systems to $8.00 and set an average rating for the company in a report on Friday, March 1st. ValuEngine cut 3D Systems from a buy rating to a hold rating in a report on Wednesday, May 8th. Craig Hallum initiated coverage on 3D Systems in a report on Monday, April 22nd. They set a hold rating and a $12.00 target price for the company. Finally, TheStreet upgraded 3D Systems from a d rating to a c- rating in a report on Thursday, March 21st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $12.83.
DDD opened at $8.71 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.56 and a quick ratio of 1.78. The stock has a market capitalization of $963.87 million, a price-to-earnings ratio of -23.54 and a beta of 1.90. 3D Systems has a 12 month low of $7.95 and a 12 month high of $21.78.
3D Systems (NYSE:DDD) last issued its earnings results on Tuesday, May 7th. The 3D printing company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.13). 3D Systems had a negative return on equity of 6.26% and a negative net margin of 7.26%. The firm had revenue of $152.00 million for the quarter, compared to analysts’ expectations of $164.69 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that 3D Systems will post -0.35 EPS for the current fiscal year.
In related news, insider Vyomesh Joshi purchased 29,920 shares of 3D Systems stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $8.22 per share, with a total value of $245,942.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 3.30% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors Inc. lifted its position in 3D Systems by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 27,083 shares of the 3D printing company’s stock worth $275,000 after acquiring an additional 898 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in 3D Systems by 42.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,177 shares of the 3D printing company’s stock worth $32,000 after acquiring an additional 942 shares in the last quarter. Mason Street Advisors LLC lifted its position in 3D Systems by 3.6% during the 1st quarter. Mason Street Advisors LLC now owns 36,721 shares of the 3D printing company’s stock worth $395,000 after acquiring an additional 1,262 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in 3D Systems by 6.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 22,810 shares of the 3D printing company’s stock worth $246,000 after acquiring an additional 1,346 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in 3D Systems by 8.6% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,710 shares of the 3D printing company’s stock worth $191,000 after acquiring an additional 1,405 shares in the last quarter. 68.55% of the stock is currently owned by hedge funds and other institutional investors.
About 3D Systems
3D Systems Corporation, through its subsidiaries, provides three-dimensional (3D) printing products and services worldwide. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, and color jet printers that transform data input generated by 3D design software, CAD software, or other 3D design tools into printed parts under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names.
See Also: Gross Domestic Product (GDP)
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