3D Systems Prints Disappointing Results
3D Systems (NYSE: DDD) reported earnings after Thursday's close.
Second quarter Q2 EPS and revenues both came in below consensus estimates. Revenue for the quarter was $151.5 million versus a consensus of $162.2 million; organic growth for the quarter was only 10 percent.
Non-GAAP EPS came in at $0.16, $0.02 below the consensus estimate. That marks a drop of 20 percent from the year-earlier quarter and the third quarter in a row of year-over-year declines.
Analysts were split on their reaction to the earnings report, although targets were reduced across the board.
- Goldman Sachs reduced price target from $55 to $53 and maintained its Neutral rating
- Brean reduced price target target from $75 to $58 and maintained its Buy rating
- FBR Capital Markets target reduced price target from $83 to $48 and downgraded to Market Perform
- Citigroup maintained a $60 price target and its Buy rating
The company raised its full-year revenue guidance $5 million from $695 million to $735 million, to $700 million to $740 million. Full-year guidance of $0.73–$0.85 EPS was reaffirmed.
Shares of 3D Systems were trading lower by nearly two percent in the pre-market.
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