FARO Technologies, Inc. (NASDAQ:FARO) – Investment analysts at Gabelli cut their FY2017 EPS estimates for FARO Technologies in a research report issued on Thursday. Gabelli analyst H. Susanto now forecasts that the scientific and technical instruments company will post earnings of ($0.20) per share for the year, down from their prior estimate of $0.65. Gabelli has a “Hold” rating and a $38.00 price objective on the stock. Gabelli also issued estimates for FARO Technologies’ FY2019 earnings at $1.55 EPS.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.34. The company had revenue of $82.68 million for the quarter, compared to analysts’ expectations of $87.65 million. FARO Technologies had a negative net margin of 0.13% and a negative return on equity of 0.13%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS.

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Other research analysts also recently issued research reports about the company. Zacks Investment Research raised FARO Technologies from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Tuesday, April 25th. Noble Financial reaffirmed a “buy” rating on shares of FARO Technologies in a research note on Thursday. Canaccord Genuity raised their price objective on FARO Technologies from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC raised their price objective on FARO Technologies from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, May 30th. Finally, Craig Hallum initiated coverage on FARO Technologies in a research note on Tuesday, June 27th. They issued a “buy” rating and a $45.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.60.

FARO Technologies (FARO) opened at 34.05 on Monday. The firm’s 50-day moving average price is $38.04 and its 200-day moving average price is $36.26. FARO Technologies has a 12-month low of $29.00 and a 12-month high of $40.60. The stock’s market cap is $568.91 million.

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in FARO Technologies during the fourth quarter valued at about $13,371,000. Credit Suisse AG boosted its stake in 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. Vident Investment Advisory LLC boosted its stake in FARO Technologies by 193.0% in the first quarter. Vident Investment Advisory LLC now owns 206,508 shares of the scientific and technical instruments company’s stock valued at $7,383,000 after buying an additional 136,026 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in FARO Technologies by 17.3% in the first quarter. TimesSquare Capital Management LLC now owns 791,509 shares of the scientific and technical instruments company’s stock valued at $28,296,000 after buying an additional 116,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in 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. Hedge funds and other institutional investors own 93.21% of the company’s stock.

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.

Earnings History and Estimates for FARO Technologies (NASDAQ:FARO)

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