3D Systems (NYSE:DDD) Posts Earnings Results, Beats Estimates By $0.03 EPS

3D Systems (NYSE:DDD – Get Rating) posted its earnings results on Monday. The 3D printing company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03, MarketWatch Earnings reports. The firm had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $132.67 million. 3D Systems had a negative return on equity of 0.56% and a net margin of 52.31%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. 3D Systems updated its FY 2022 guidance to EPS.

Shares of DDD opened at $10.23 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 5.80 and a quick ratio of 5.27. 3D Systems has a 1-year low of $10.19 and a 1-year high of $41.48. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 3.98 and a beta of 1.38. The firm has a 50 day simple moving average of $14.59 and a 200-day simple moving average of $19.25.

In other 3D Systems news, CFO Jagtar Narula sold 5,863 shares of 3D Systems stock in a transaction on Monday, March 21st. The shares were sold at an average price of $16.13, for a total value of $94,570.19. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Malissia Clinton sold 4,375 shares of 3D Systems stock in a transaction on Friday, March 18th. The shares were sold at an average price of $16.08, for a total transaction of $70,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,838 shares of company stock worth $328,804. 3.45% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its holdings in shares of 3D Systems by 40.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,473 shares of the 3D printing company’s stock valued at $258,000 after purchasing an additional 4,478 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of 3D Systems by 3.0% in the 4th quarter. BlackRock Inc. now owns 19,795,446 shares of the 3D printing company’s stock valued at $426,392,000 after purchasing an additional 583,388 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of 3D Systems by 50.2% in the 4th quarter. Wells Fargo & Company MN now owns 183,276 shares of the 3D printing company’s stock valued at $3,948,000 after purchasing an additional 61,236 shares during the last quarter. Virtu Financial LLC boosted its holdings in shares of 3D Systems by 36.2% in the 4th quarter. Virtu Financial LLC now owns 19,045 shares of the 3D printing company’s stock valued at $410,000 after purchasing an additional 5,063 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of 3D Systems by 1.1% in the 4th quarter. Deutsche Bank AG now owns 238,532 shares of the 3D printing company’s stock valued at $5,138,000 after purchasing an additional 2,607 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Several brokerages have recently weighed in on DDD. StockNews.com upgraded shares of 3D Systems from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. JPMorgan Chase & Co. lowered their price target on 3D Systems from $22.00 to $18.00 and set an “underweight” rating on the stock in a report on Tuesday, March 1st. B. Riley dropped their price objective on shares of 3D Systems from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 1st. Craig Hallum cut their price target on shares of 3D Systems from $33.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, March 1st. Finally, Bank of America lifted their price objective on 3D Systems from $22.00 to $23.00 and gave the company an “underperform” rating in a report on Tuesday, March 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.14.

3D Systems Company Profile (Get Rating)

3D Systems Corporation, through its subsidiaries, provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.

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