For context, last month shares of main rival 3D Systems (NYSE:DDD) gained 16.4% and the S&P 500 returned 1.9%. So far for the year, 3D Systems stock is down 22.7%, while the broader market has returned 19.6%.
There doesn't seem to be any company-specific news behind Stratasys stock's September decline. It's possible that some investors believed the stock didn't fall enough after the company released its second-quarter results on July 31.
In Q2, Stratasys' revenue slipped 4.1% year over year to $163.2 million, falling short of the $168.7 million Wall Street was expecting. Adjusted for one-time items, earnings per share (EPS) edged up 6.7% to $0.16, slightly topping the $0.15 consensus estimate.
Investors shouldn't have long to wait for material news. While the company hasn't yet announced a date, we can probably expect it to release its third-quarter results at the tail end of this month or very early next month. For Q3, the Street is expecting an exact replica of the year-ago period's headline numbers. Analysts are projecting adjusted EPS of $0.11 on revenue of $162 million, which are the same results Stratasys delivered in the third quarter of last year.