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3D Systems (DDD) Inks an Agreement With Saudi Arabia's Dussur
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3D Systems (DDD - Free Report) recently announced that it signed an agreement with the Saudi Arabian Industrial Investments Company (Dussur) to expand the reach of additive manufacturing in the Kingdom of Saudi Arabia, the Middle East and North Africa.
Per the agreement, 3D Systems will enable the development of domestic additive manufacturing production capabilities in Saudi Arabia, consistent with the Kingdom’s ‘Vision 2030’. Though the new venture is primarily focused on the energy sector, it has plans to include industrial, aerospace, and healthcare sectors in the days ahead.
This deal, likely to open in late 2022, intends to bring diversification to Saudi Arabian economy by expanding local engineering and manufacturing and boosting green energy sources. It is developed in 3D Systems’ advanced manufacturing sites and includes plastic and metal 3D printing technologies as well as the company’s application engineers.
3D Systems is currently witnessing robust prospects across most of its end business. DDD remains bullish on the prospects of its healthcare business. The sustained demand for printers and materials for medical and dental customers is fueling this segment’s growth.
The company is focusing on strategic initiatives like improving existing 3D printers, strengthening partnerships and enhancing productivity to drive growth. In February, it teamed up with Saremco Dental AG to accelerate innovation in digital dentistry. This strategic partnership intends to combine the power of 3D Systems’ NextDent digital dentistry solution with Saremco’s materials science expertise, enabling dental laboratories and clinics to address a variety of indications with unparalleled accuracy, productivity and lower costs.
However, 3D Systems is witnessing a declining gross margin due to the incremental sales generated from the lower-margin products. The company tries to mitigate the gross margin contraction by lowering operating expenses. We believe that the company has to look for ways to generate revenues from the sales of higher-margin products to maintain its profitability in the long run.
Zacks Rank & Key Picks
3D Systems currently carries a Zacks Rank #5 (Strong Sell). Shares of DDD have plunged 36% in the past year.
The Zacks Consensus Estimate for Advanced Micro Devices’ first-quarter fiscal 2022 earnings has been revised upward by 23 cents to 91 cents per share over the past 60 days. For fiscal 2022, Advanced Micro Devices’ earnings estimates have moved north by 70 cents to $3.99 per share in the past 60 days.
AMD’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 17%. Shares of Advanced Micro Devices have surged 57% in the past year.
The Zacks Consensus Estimate for Axcelis’ first-quarter 2022 earnings has been revised upward by 5 cents to 92 cents per share over the past 60 days. For 2022, Axcelis’ earnings estimates have moved north by 12.4% to $3.99 per share in the past 60 days.
Axcelis’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 30.3%. Shares of ACLS have soared 97.5% in the past year.
The Zacks Consensus Estimate for Analog Devices’ second-quarter fiscal 2022 earnings has been revised upward by 23 cents to $2.08 per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 79 cents to $8.32 per share in the past 60 days.
Analog Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6%. Shares of ADI have increased 9.7% in the past year.
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3D Systems (DDD) Inks an Agreement With Saudi Arabia's Dussur
3D Systems (DDD - Free Report) recently announced that it signed an agreement with the Saudi Arabian Industrial Investments Company (Dussur) to expand the reach of additive manufacturing in the Kingdom of Saudi Arabia, the Middle East and North Africa.
Per the agreement, 3D Systems will enable the development of domestic additive manufacturing production capabilities in Saudi Arabia, consistent with the Kingdom’s ‘Vision 2030’. Though the new venture is primarily focused on the energy sector, it has plans to include industrial, aerospace, and healthcare sectors in the days ahead.
This deal, likely to open in late 2022, intends to bring diversification to Saudi Arabian economy by expanding local engineering and manufacturing and boosting green energy sources. It is developed in 3D Systems’ advanced manufacturing sites and includes plastic and metal 3D printing technologies as well as the company’s application engineers.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
3D Systems is currently witnessing robust prospects across most of its end business. DDD remains bullish on the prospects of its healthcare business. The sustained demand for printers and materials for medical and dental customers is fueling this segment’s growth.
The company is focusing on strategic initiatives like improving existing 3D printers, strengthening partnerships and enhancing productivity to drive growth. In February, it teamed up with Saremco Dental AG to accelerate innovation in digital dentistry. This strategic partnership intends to combine the power of 3D Systems’ NextDent digital dentistry solution with Saremco’s materials science expertise, enabling dental laboratories and clinics to address a variety of indications with unparalleled accuracy, productivity and lower costs.
However, 3D Systems is witnessing a declining gross margin due to the incremental sales generated from the lower-margin products. The company tries to mitigate the gross margin contraction by lowering operating expenses. We believe that the company has to look for ways to generate revenues from the sales of higher-margin products to maintain its profitability in the long run.
Zacks Rank & Key Picks
3D Systems currently carries a Zacks Rank #5 (Strong Sell). Shares of DDD have plunged 36% in the past year.
Some better-ranked stocks from the broader computer and technology sector are Advanced Micro Devices (AMD - Free Report) sporting a Zacks Rank #1 (Strong Buy), Axcelis Technologies (ACLS - Free Report) and Analog Devices (ADI - Free Report) , both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Advanced Micro Devices’ first-quarter fiscal 2022 earnings has been revised upward by 23 cents to 91 cents per share over the past 60 days. For fiscal 2022, Advanced Micro Devices’ earnings estimates have moved north by 70 cents to $3.99 per share in the past 60 days.
AMD’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 17%. Shares of Advanced Micro Devices have surged 57% in the past year.
The Zacks Consensus Estimate for Axcelis’ first-quarter 2022 earnings has been revised upward by 5 cents to 92 cents per share over the past 60 days. For 2022, Axcelis’ earnings estimates have moved north by 12.4% to $3.99 per share in the past 60 days.
Axcelis’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 30.3%. Shares of ACLS have soared 97.5% in the past year.
The Zacks Consensus Estimate for Analog Devices’ second-quarter fiscal 2022 earnings has been revised upward by 23 cents to $2.08 per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 79 cents to $8.32 per share in the past 60 days.
Analog Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6%. Shares of ADI have increased 9.7% in the past year.