Analysts Expect FARO Technologies, Inc. (FARO) Will Post Earnings of $0.12 Per Share

Equities analysts predict that FARO Technologies, Inc. (NASDAQ:FARO) will post earnings per share of $0.12 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for FARO Technologies’ earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.17. FARO Technologies reported earnings per share of $0.20 in the same quarter last year, which indicates a negative year-over-year growth rate of 40%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 1st.

According to Zacks, analysts expect that FARO Technologies will report full-year earnings of $0.56 per share for the current financial year, with EPS estimates ranging from $0.32 to $0.65. For the next fiscal year, analysts forecast that the business will post earnings of $1.16 per share, with EPS estimates ranging from $1.00 to $1.37. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow FARO Technologies.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Tuesday, May 9th. The scientific and technical instruments company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.14. FARO Technologies had a net margin of 5.06% and a return on equity of 5.45%. The firm had revenue of $81.60 million for the quarter, compared to the consensus estimate of $77.74 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis.

Several research analysts have weighed in on the stock. ValuEngine raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a report on Friday. Needham & Company LLC increased their price target on shares of FARO Technologies from $37.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. Noble Financial reissued a “buy” rating on shares of FARO Technologies in a report on Saturday, May 13th. Canaccord Genuity reissued a “buy” rating on shares of FARO Technologies in a report on Thursday, May 11th. Finally, Zacks Investment Research cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $38.67.

Shares of FARO Technologies (NASDAQ:FARO) traded down 2.45% during trading on Wednesday, reaching $37.75. The company had a trading volume of 88,725 shares. FARO Technologies has a 12 month low of $29.00 and a 12 month high of $40.15. The company has a market cap of $630.12 million, a price-to-earnings ratio of 96.79 and a beta of 1.43. The firm has a 50 day moving average price of $35.76 and a 200 day moving average price of $36.16.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Credit Suisse AG boosted its position in shares of FARO Technologies by 103.1% in the first quarter. Credit Suisse AG now owns 291,713 shares of the scientific and technical instruments company’s stock valued at $10,429,000 after buying an additional 148,072 shares in the last quarter. State Street Corp boosted its position in shares of FARO Technologies by 6.5% in the first quarter. State Street Corp now owns 391,390 shares of the scientific and technical instruments company’s stock valued at $13,988,000 after buying an additional 24,013 shares in the last quarter. Bank of America Corp DE boosted its position in shares of FARO Technologies by 93.7% in the first quarter. Bank of America Corp DE now owns 26,241 shares of the scientific and technical instruments company’s stock valued at $938,000 after buying an additional 12,696 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of FARO Technologies by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 71,705 shares of the scientific and technical instruments company’s stock valued at $2,564,000 after buying an additional 3,915 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of FARO Technologies by 9.8% in the first 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 buying an additional 86,925 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

About FARO Technologies

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:FARO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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