Analysts Adjust 3D Systems Earnings Outlook
Research analysts at Zacks Research have revised their Q1 2024 earnings per share (EPS) outlook estimates for 3D Systems downward, citing updated projections in a note released to investors on April 9th. Analyst A. Ganguly now anticipates that the 3D printing company will report earnings per share of ($0.11) for the quarter, down from their previous forecast of ($0.09).
Consensus Estimates for Full-Year Earnings
The consensus estimate for 3D Systems’ current full-year earnings stands at ($0.24) per share, reflecting analysts’ expectations for the company’s financial performance over the entire fiscal year.
3D Systems Earnings Outlook Insights
Zacks Research also provided estimates for 3D Systems’ earnings for subsequent quarters and fiscal years, offering a glimpse into the company’s anticipated earnings trajectory. Projections include earnings expectations for Q2 2024, FY2024, Q1 2025, Q2 2025, Q4 2025, FY2025, and Q1 2026.
Previous Earnings Report Recap
3D Systems last reported its earnings results on February 27th, revealing a quarterly loss of ($0.17) per share, which fell short of analysts’ consensus estimates by ($0.10). The company generated revenue of $114.85 million during the quarter, below the consensus estimate of $124.33 million.
Analyst Ratings and Market Reaction
Several equities research analysts have recently weighed in on 3D Systems’ performance. Cantor Fitzgerald initiated coverage on the company with an “overweight” rating and a target price of $8.50. Conversely, StockNews.com downgraded 3D Systems from a “hold” to a “sell” rating in a research note.
Stock Performance and Market Metrics
Shares of DDD stock opened at $4.05 on Thursday, with the company boasting a market capitalization of $539.06 million. Notably, 3D Systems has a negative price-to-earnings (P/E) ratio of -1.42 and a beta of 1.75. The stock’s 50-day and 200-day simple moving averages are $4.65 and $4.89, respectively.
Institutional Investors’ Involvement
Institutional investors have played a significant role in trading activity surrounding 3D Systems’ stock. Recent transactions include notable increases in holdings by Rockefeller Capital Management L.P., Farther Finance Advisors LLC, and Russell Investments Group Ltd., among others.
Institutional Ownership Insights
Currently, institutional investors hold a substantial portion of 3D Systems’ stock, accounting for 64.49% of the company’s total shares outstanding. This level of institutional ownership underscores the significant interest and involvement of institutional investors in the company’s performance and future prospects.
3D Systems Earnings Outlook – Summary
The revised 3D Systems earnings outlook underscores the company’s ongoing efforts to navigate market challenges and deliver sustainable performance in the dynamic landscape of 3D printing technology. As 3D Systems navigates through shifting market dynamics and adjusts to revised earnings expectations, investor sentiment remains a crucial factor influencing the company’s stock performance. With ongoing scrutiny from analysts and market participants, all eyes are on 3D Systems as it seeks to deliver on its financial targets and strategic initiatives amidst a challenging business landscape.
Source: Market Beat
