Analysts Expect FARO Technologies, Inc. (NASDAQ:FARO) Will Announce Quarterly Sales of $89.65 Million
Wall Street analysts forecast that FARO Technologies, Inc. (NASDAQ:FARO) will post sales of $89.65 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for FARO Technologies’ earnings. The lowest sales estimate is $86.50 million and the highest is $91.46 million. FARO Technologies posted sales of $78.54 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.1%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 1st.
On average, analysts expect that FARO Technologies will report full-year sales of $89.65 million for the current financial year, with estimates ranging from $344.00 million to $369.91 million. For the next fiscal year, analysts anticipate that the business will report sales of $390.97 million per share, with estimates ranging from $361.00 million to $432.86 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover FARO Technologies.
FARO Technologies (NASDAQ:FARO) last posted its earnings results on Tuesday, May 9th. The scientific and technical instruments company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.14. The firm had revenue of $81.60 million for the quarter, compared to analysts’ expectations of $77.74 million. FARO Technologies had a return on equity of 1.92% and a net margin of 1.98%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share.
Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. ValuEngine raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Needham & Company LLC boosted their price objective on shares of FARO Technologies from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, May 30th. Noble Financial reissued a “buy” rating on shares of FARO Technologies in a research report on Saturday, May 13th. Finally, Canaccord Genuity reissued a “buy” rating on shares of FARO Technologies in a research report on Thursday, May 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $40.25.
FARO Technologies (NASDAQ:FARO) traded down 1.73% during mid-day trading on Wednesday, hitting $36.90. 7,569 shares of the stock were exchanged. The firm has a market capitalization of $615.93 million, a price-to-earnings ratio of 94.62 and a beta of 1.30. The company’s 50-day moving average price is $36.13 and its 200 day moving average price is $36.10. FARO Technologies has a 52 week low of $29.00 and a 52 week high of $40.15.
A number of large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. bought a new stake in FARO Technologies during the first quarter valued at about $116,000. Mason Street Advisors LLC boosted its stake in FARO Technologies by 7.1% in the first quarter. Mason Street Advisors LLC now owns 3,901 shares of the scientific and technical instruments company’s stock valued at $139,000 after buying an additional 257 shares during the period. Karp Capital Management Corp bought a new stake in FARO Technologies during the first quarter valued at about $207,000. Thompson Investment Management Inc. boosted its stake in FARO Technologies by 7.8% in the first quarter. Thompson Investment Management Inc. now owns 6,250 shares of the scientific and technical instruments company’s stock valued at $223,000 after buying an additional 450 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in FARO Technologies by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 6,800 shares of the scientific and technical instruments company’s stock valued at $243,000 after buying an additional 100 shares during the period. 93.45% of the stock is owned by institutional investors.
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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