3D Systems Corporation (NYSE:DDD) Trading Down 21.3% on Disappointing Earnings
3D Systems Corporation (NYSE:DDD) dropped 21.3% on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $13.11 and last traded at $13.39, with a volume of 13,305,682 shares traded. The stock had previously closed at $17.01.
The 3D printing company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.04. 3D Systems Corporation had a negative net margin of 4.81% and a positive return on equity of 3.83%. The business had revenue of $159.47 million during the quarter, compared to the consensus estimate of $163.01 million. During the same period in the previous year, the business posted $0.12 EPS. The firm’s revenue was up .9% on a year-over-year basis.
Several research firms have recently weighed in on DDD. Canaccord Genuity reaffirmed a “hold” rating and set a $15.00 price target on shares of 3D Systems Corporation in a research note on Friday, May 26th. Piper Jaffray Companies lifted their price objective on shares of 3D Systems Corporation from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Wednesday, May 24th. FBR & Co reissued a “hold” rating and set a $18.00 price objective on shares of 3D Systems Corporation in a report on Monday, May 15th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $18.00 price objective (up from $15.00) on shares of 3D Systems Corporation in a report on Monday, June 26th. Finally, BidaskClub lowered shares of 3D Systems Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $17.82.
In related news, Director G Walter Loewenbaum II sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $22.15, for a total value of $553,750.00. Following the completion of the sale, the director now directly owns 1,042,402 shares in the company, valued at $23,089,204.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Kevin Mcalea sold 17,500 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $20.63, for a total transaction of $361,025.00. Following the completion of the sale, the chief operating officer now owns 276,074 shares of the company’s stock, valued at $5,695,406.62. The disclosure for this sale can be found here. Insiders have sold a total of 102,500 shares of company stock worth $2,221,425 over the last three months. 5.00% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in DDD. Strs Ohio bought a new stake in 3D Systems Corporation during the second quarter worth $115,000. LS Investment Advisors LLC increased its stake in 3D Systems Corporation by 20.0% in the second quarter. LS Investment Advisors LLC now owns 8,714 shares of the 3D printing company’s stock worth $163,000 after buying an additional 1,452 shares during the last quarter. Trent Capital Management Inc. NC bought a new stake in 3D Systems Corporation during the second quarter worth $200,000. Concourse Capital Management LLC bought a new stake in 3D Systems Corporation during the first quarter worth $177,000. Finally, Advantus Capital Management Inc increased its stake in 3D Systems Corporation by 3.8% in the first quarter. Advantus Capital Management Inc now owns 13,764 shares of the 3D printing company’s stock worth $206,000 after buying an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 54.56% of the company’s stock.
The company’s market capitalization is $1.52 billion. The firm’s 50 day moving average price is $19.05 and its 200-day moving average price is $17.54.
3D Systems Corporation Company Profile
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) printing solutions, including 3D printers, print materials, software, on demand manufacturing services and digital design tools. Its precision healthcare capabilities include simulation, Virtual Surgical Planning (VSP), and printing of medical and dental devices and surgical guides and instruments.
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