3D Systems Corp. (DDD) Downgraded by Zacks Investment Research
According to Zacks, “3D Systems has an extremely volatile earnings history, oscillating between incredible beats and abysmal misses in the trailing four quarters. Factors like increased sales of higher margin materials, software and healthcare solutions are proving to be conducive to the bottom-line performance. The company’s healthcare software and material businesses are proving to be great profit churners. Also, rising demand for this novel technology across several applications and industries add to the company's strength. However, unfavorable macroeconomic factors such as slowdown, inflation, currency fluctuations, commodity prices and credit availability impacted the company’s performance. Moreover, 3D System operates in a highly dynamic and competitive market which adds to its risks. This apart, escalating R&D expenses and precipitous revenue decline may prove as significant headwinds for the company, going forward.”
Several other research firms also recently commented on DDD. FBR & Co began coverage on 3D Systems Corp. in a report on Monday, October 3rd. They issued a market perform rating and a $18.00 price objective for the company. Vetr downgraded 3D Systems Corp. from a strong-buy rating to a buy rating and set a $19.89 price objective for the company. in a report on Monday, October 3rd. Canaccord Genuity reissued a hold rating and issued a $14.00 price objective on shares of 3D Systems Corp. in a report on Tuesday, September 13th. Jefferies Group reissued a hold rating and issued a $15.00 price objective on shares of 3D Systems Corp. in a report on Tuesday, September 13th. Finally, Pacific Crest reissued a hold rating on shares of 3D Systems Corp. in a report on Tuesday, September 13th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $15.23.
Shares of 3D Systems Corp. (NYSE:DDD) opened at 17.53 on Tuesday. The firm’s 50-day moving average is $16.28 and its 200-day moving average is $14.86. The firm’s market cap is $1.97 billion. 3D Systems Corp. has a 1-year low of $6.00 and a 1-year high of $19.76.
3D Systems Corp. (NYSE:DDD) last released its quarterly earnings data on Wednesday, August 3rd. The 3D printing company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The company earned $158.10 million during the quarter, compared to the consensus estimate of $161.01 million. 3D Systems Corp. had a positive return on equity of 1.55% and a negative net margin of 100.84%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, analysts anticipate that 3D Systems Corp. will post $0.39 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. M&T Bank Corp boosted its position in shares of 3D Systems Corp. by 5.5% in the first quarter. M&T Bank Corp now owns 11,773 shares of the 3D printing company’s stock worth $182,000 after buying an additional 612 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of 3D Systems Corp. during the second quarter worth approximately $172,000. Teacher Retirement System of Texas boosted its position in shares of 3D Systems Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 14,771 shares of the 3D printing company’s stock worth $202,000 after buying an additional 1,805 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of 3D Systems Corp. by 14.5% in the second quarter. Thrivent Financial for Lutherans now owns 15,070 shares of the 3D printing company’s stock worth $206,000 after buying an additional 1,910 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of 3D Systems Corp. by 62.7% in the first quarter. Legal & General Group Plc now owns 15,556 shares of the 3D printing company’s stock worth $240,000 after buying an additional 5,994 shares during the last quarter. Institutional investors own 50.16% of the company’s stock.
3D Systems Corp. Company Profile
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) products and services, including 3D printers, print materials, parts services and digital design and manufacturing tools. Its ecosystem supports applications from the product design shop to the factory floor to the operating room.
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