Analysts Expect FARO Technologies, Inc. (FARO) Will Announce Quarterly Sales of $104.08 Million

Wall Street brokerages expect FARO Technologies, Inc. (NASDAQ:FARO) to report $104.08 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for FARO Technologies’ earnings. The lowest sales estimate is $101.00 million and the highest is $107.24 million. FARO Technologies reported sales of $91.70 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.5%. The business is scheduled to report its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that FARO Technologies will report full-year sales of $104.08 million for the current year, with estimates ranging from $355.49 million to $361.73 million. For the next year, analysts forecast that the firm will post sales of $401.86 million per share, with estimates ranging from $393.00 million to $414.44 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for FARO Technologies.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.14. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. The company had revenue of $90.25 million during the quarter, compared to the consensus estimate of $89.34 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis.

A number of analysts have recently weighed in on the stock. BidaskClub downgraded shares of FARO Technologies from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. Stifel Nicolaus set a $33.00 price target on shares of FARO Technologies and gave the stock a “hold” rating in a report on Friday, October 6th. Zacks Investment Research raised shares of FARO Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price target (up previously from $42.00) on shares of FARO Technologies in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $51.17.

Shares of FARO Technologies (FARO) opened at $47.15 on Monday. FARO Technologies has a twelve month low of $31.90 and a twelve month high of $54.40. The firm has a market cap of $795.45, a P/E ratio of -4,715,000.00 and a beta of 1.43.

Large investors have recently modified their holdings of the stock. Royce & Associates LP lifted its stake in FARO Technologies by 1.7% in the 2nd quarter. Royce & Associates LP now owns 701,900 shares of the scientific and technical instruments company’s stock valued at $26,532,000 after purchasing an additional 11,500 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in FARO Technologies by 3.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 195,157 shares of the scientific and technical instruments company’s stock valued at $7,377,000 after purchasing an additional 6,955 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 purchasing an additional 59,018 shares during the last quarter. Baillie Gifford & Co. lifted its stake 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. Finally, Ark Investment Management LLC lifted its stake in FARO Technologies by 86.2% in the 2nd quarter. Ark Investment Management LLC now owns 9,870 shares of the scientific and technical instruments company’s stock valued at $373,000 after purchasing an additional 4,569 shares during the last quarter. 97.56% of the stock is owned by institutional investors and hedge funds.

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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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