FARO Technologies, Inc. (FARO) Expected to Announce Quarterly Sales of $90.81 Million
Wall Street brokerages predict that FARO Technologies, Inc. (NASDAQ:FARO) will report sales of $90.81 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for FARO Technologies’ earnings, with the lowest sales estimate coming in at $88.00 million and the highest estimate coming in at $93.00 million. FARO Technologies reported sales of $79.60 million in the same quarter last year, which indicates a positive year over year growth rate of 14.1%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that FARO Technologies will report full-year sales of $90.81 million for the current fiscal year, with estimates ranging from $346.00 million to $360.00 million. For the next financial year, analysts expect that the business will report sales of $388.84 million per share, with estimates ranging from $365.00 million to $406.35 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover FARO Technologies.
FARO Technologies (NASDAQ:FARO) last posted its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.34). The company had revenue of $82.68 million for the quarter, compared to analysts’ expectations of $87.65 million. FARO Technologies had a negative net margin of 0.13% and a negative return on equity of 0.13%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS.
FARO has been the subject of a number of research analyst reports. ValuEngine raised FARO Technologies from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research raised FARO Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Craig Hallum started coverage on FARO Technologies in a research report on Tuesday, June 27th. They set a “buy” rating and a $45.00 target price for the company. BidaskClub lowered FARO Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Canaccord Genuity lifted their target price on FARO Technologies from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. FARO Technologies has an average rating of “Hold” and a consensus price target of $39.40.
FARO Technologies (NASDAQ FARO) traded up 6.08% on Wednesday, reaching $40.10. The company’s stock had a trading volume of 669,571 shares. The stock’s market cap is $669.99 million. FARO Technologies has a one year low of $29.00 and a one year high of $40.60. The stock has a 50-day moving average of $36.58 and a 200-day moving average of $36.04.
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Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of FARO Technologies by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,292 shares of the scientific and technical instruments company’s stock valued at $502,000 after acquiring an additional 154 shares during the period. State Street Corp increased its holdings in shares of FARO Technologies by 4.0% in the 2nd quarter. State Street Corp now owns 406,941 shares of the scientific and technical instruments company’s stock valued at $15,381,000 after acquiring an additional 15,551 shares during the period. Voya Investment Management LLC increased its holdings in shares of FARO Technologies by 13.5% in the 2nd quarter. Voya Investment Management LLC now owns 8,197 shares of the scientific and technical instruments company’s stock valued at $310,000 after acquiring an additional 974 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of FARO Technologies by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,036,966 shares of the scientific and technical instruments company’s stock valued at $39,198,000 after acquiring an additional 59,018 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of FARO Technologies by 20.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 35,160 shares of the scientific and technical instruments company’s stock valued at $1,329,000 after acquiring an additional 5,925 shares during the period. Institutional investors and hedge funds own 94.64% of the company’s stock.
FARO Technologies Company Profile
FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.
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