Zacks: Analysts Expect FARO Technologies, Inc. (FARO) Will Post Earnings of $0.43 Per Share

Equities research analysts expect FARO Technologies, Inc. (NASDAQ:FARO) to post earnings per share of $0.43 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for FARO Technologies’ earnings. The highest EPS estimate is $0.55 and the lowest is $0.30. FARO Technologies posted earnings per share of $0.50 in the same quarter last year, which suggests a negative year-over-year growth rate of 14%. The company is scheduled to issue its next quarterly earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that FARO Technologies will report full year earnings of $0.66 per share for the current fiscal year, with EPS estimates ranging from $0.50 to $0.81. For the next year, analysts anticipate that the company will post earnings of $1.58 per share, with EPS estimates ranging from $1.20 to $1.99. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover FARO Technologies.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.06). FARO Technologies had a positive return on equity of 3.18% and a negative net margin of 2.99%. The business had revenue of $99.71 million for the quarter, compared to analyst estimates of $102.53 million. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis.

Several analysts recently issued reports on the stock. ValuEngine upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Zacks Investment Research lowered shares of FARO Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday, July 30th. Craig Hallum increased their price target on shares of FARO Technologies from $64.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. BidaskClub lowered shares of FARO Technologies from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of FARO Technologies in a research report on Friday, November 2nd. Three analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. FARO Technologies has an average rating of “Hold” and a consensus target price of $64.40.

In other FARO Technologies news, insider Simon Raab sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $66.17, for a total value of $992,550.00. Following the sale, the insider now owns 30,047 shares in the company, valued at $1,988,209.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kathleen Hall sold 5,921 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $67.54, for a total transaction of $399,904.34. Following the completion of the sale, the chief operating officer now owns 15,030 shares in the company, valued at approximately $1,015,126.20. The disclosure for this sale can be found here. Insiders have sold a total of 93,495 shares of company stock worth $6,285,077 in the last quarter. 3.10% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its position in FARO Technologies by 370.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,065 shares of the scientific and technical instruments company’s stock valued at $197,000 after buying an additional 2,413 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in FARO Technologies in the third quarter valued at approximately $212,000. First Trust Advisors LP acquired a new stake in FARO Technologies in the third quarter valued at approximately $255,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in FARO Technologies in the third quarter valued at approximately $261,000. Finally, SG Americas Securities LLC acquired a new stake in FARO Technologies in the second quarter valued at approximately $233,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Shares of NASDAQ:FARO traded down $2.32 on Friday, reaching $46.56. 46,908 shares of the company’s stock were exchanged, compared to its average volume of 88,837. FARO Technologies has a twelve month low of $43.26 and a twelve month high of $70.20. The firm has a market cap of $843.32 million, a PE ratio of 160.55 and a beta of 1.68.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven, three-dimensional (3D) measurement, imaging, and realization systems. The company offers FaroArm, a combination of six or seven-axis, articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.

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