FARO Technologies, Inc. (FARO) Expected to Announce Quarterly Sales of $90.81 Million
Wall Street brokerages predict that FARO Technologies, Inc. (NASDAQ:FARO) will post sales of $90.81 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for FARO Technologies’ earnings, with estimates ranging from $88.00 million to $93.00 million. FARO Technologies reported sales of $79.60 million during the same quarter last year, which suggests a positive year over year growth rate of 14.1%. The company is expected to issue its next earnings report on Tuesday, November 7th.
On average, analysts expect that FARO Technologies will report full-year sales of $90.81 million for the current financial year, with estimates ranging from $346.00 million to $360.00 million. For the next financial year, analysts forecast that the firm will post sales of $388.84 million per share, with estimates ranging from $365.00 million to $406.35 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for FARO Technologies.
FARO Technologies (NASDAQ:FARO) last announced its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.34). The company had revenue of $82.68 million during the quarter, compared to the consensus estimate of $87.65 million. FARO Technologies had a negative net margin of 0.13% and a negative return on equity of 0.13%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS.
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Several large investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can lifted its stake in FARO Technologies by 6.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 23,154 shares of the scientific and technical instruments company’s stock valued at $827,000 after acquiring an additional 1,429 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in FARO Technologies by 9.3% in the 1st quarter. Bank of New York Mellon Corp now owns 521,458 shares of the scientific and technical instruments company’s stock valued at $18,642,000 after acquiring an additional 44,526 shares in the last quarter. Comerica Bank lifted its stake in FARO Technologies by 3.7% in the 1st quarter. Comerica Bank now owns 18,419 shares of the scientific and technical instruments company’s stock valued at $689,000 after acquiring an additional 664 shares in the last quarter. Karp Capital Management Corp bought a new stake in FARO Technologies in the 1st quarter valued at approximately $207,000. Finally, State of Tennessee Treasury Department lifted its stake in FARO Technologies by 17.8% in the 1st quarter. State of Tennessee Treasury Department now owns 16,283 shares of the scientific and technical instruments company’s stock valued at $582,000 after acquiring an additional 2,457 shares in the last quarter. Institutional investors and hedge funds own 94.64% of the company’s stock.
FARO Technologies (NASDAQ:FARO) opened at 38.40 on Wednesday. The company’s market cap is $641.59 million. FARO Technologies has a 12 month low of $29.00 and a 12 month high of $40.60. The company has a 50-day moving average of $36.02 and a 200-day moving average of $35.96.
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.
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