Wall Street analysts expect FARO Technologies, Inc. (NASDAQ:FARO) to post $101.26 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for FARO Technologies’ earnings, with the lowest sales estimate coming in at $98.00 million and the highest estimate coming in at $103.00 million. FARO Technologies reported sales of $91.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.4%. The firm is expected to report its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that FARO Technologies will report full year sales of $101.26 million for the current year, with estimates ranging from $346.00 million to $360.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $388.84 million per share, with estimates ranging from $365.00 million to $406.35 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for FARO Technologies.
FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.14. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. The firm had revenue of $90.25 million during the quarter, compared to analysts’ expectations of $89.34 million. During the same period in the previous year, the company earned $0.07 earnings per share. FARO Technologies’s quarterly revenue was up 13.4% compared to the same quarter last year.
A number of research analysts have recently issued reports on the stock. Stifel Nicolaus set a $33.00 price target on shares of FARO Technologies and gave the stock a “hold” rating in a research report on Friday, October 6th. ValuEngine upgraded shares of FARO Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded shares of FARO Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Needham & Company LLC restated a “buy” rating and issued a $53.00 price target on shares of FARO Technologies in a research report on Sunday. Finally, Gabelli downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $42.20.
Shares of FARO Technologies (NASDAQ:FARO) opened at 46.25 on Monday. FARO Technologies has a one year low of $29.00 and a one year high of $47.90. The stock’s market capitalization is $772.75 million. The stock has a 50 day moving average of $37.85 and a 200-day moving average of $36.38.
A number of large investors have recently modified their holdings of FARO. Credit Suisse AG lifted its position in FARO Technologies by 103.1% in the 1st quarter. Credit Suisse AG now owns 291,713 shares of the scientific and technical instruments company’s stock valued at $10,429,000 after purchasing an additional 148,072 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in FARO Technologies by 9.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 977,948 shares of the scientific and technical instruments company’s stock valued at $34,962,000 after purchasing an additional 86,925 shares during the last quarter. Vanguard Group Inc. lifted its position in FARO Technologies by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 1,521,326 shares of the scientific and technical instruments company’s stock valued at $54,388,000 after purchasing an additional 84,953 shares during the last quarter. CWM LLC bought a new stake in FARO Technologies in the 2nd quarter valued at about $1,856,000. Finally, Baillie Gifford & Co. lifted its position in FARO Technologies by 25.2% in the 2nd quarter. Baillie Gifford & Co. now owns 217,980 shares of the scientific and technical instruments company’s stock valued at $8,239,000 after purchasing an additional 43,900 shares during the last quarter. Hedge funds and other institutional investors 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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