FARO Technologies (NASDAQ:FARO) Issues Q3 2024 Earnings Guidance

FARO Technologies (NASDAQ:FARO) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of -0.010-0.190 for the period, compared to the consensus estimate of -0.020. The company issued revenue guidance of $76.0 million-$84.0 million, compared to the consensus revenue estimate of $83.6 million.

FARO Technologies Trading Up 5.3 %

Shares of NASDAQ:FARO opened at $15.17 on Monday. The company has a current ratio of 2.35, a quick ratio of 2.03 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $291.36 million, a PE ratio of -6.74 and a beta of 1.25. FARO Technologies has a 12-month low of $12.34 and a 12-month high of $24.80. The business’s fifty day simple moving average is $16.67 and its 200-day simple moving average is $19.17.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. FARO Technologies had a negative net margin of 11.92% and a negative return on equity of 16.09%. The business had revenue of $82.09 million during the quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FARO shares. Craig Hallum reduced their price target on FARO Technologies from $29.00 to $25.00 and set a buy rating on the stock in a research report on Friday. Needham & Company LLC decreased their price target on FARO Technologies from $27.00 to $24.00 and set a buy rating for the company in a research note on Friday. Finally, StockNews.com upgraded FARO Technologies from a hold rating to a buy rating in a research note on Friday, May 3rd.

Insider Activity

In related news, Chairman Yuval Wasserman sold 8,986 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $18.65, for a total value of $167,588.90. Following the completion of the transaction, the chairman now owns 202,835 shares in the company, valued at approximately $3,782,872.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 30,036 shares of company stock valued at $518,303 over the last ninety days. 2.10% of the stock is currently owned by insiders.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.