Analysts Anticipate FARO Technologies, Inc. (FARO) Will Announce Quarterly Sales of $104.08 Million
Equities analysts expect that FARO Technologies, Inc. (NASDAQ:FARO) will report sales of $104.08 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for FARO Technologies’ earnings. The lowest sales estimate is $101.00 million and the highest is $107.24 million. FARO Technologies posted sales of $91.70 million during the same quarter last year, which suggests a positive year over year growth rate of 13.5%. The company is scheduled to report its next earnings report on Wednesday, February 28th.
On average, analysts expect that FARO Technologies will report full-year sales of $104.08 million for the current year, with estimates ranging from $355.49 million to $361.73 million. For the next year, analysts anticipate that the business will report sales of $401.86 million per share, with estimates ranging from $393.00 million to $414.44 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover FARO Technologies.
FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.14. FARO Technologies had a return on equity of 0.03% and a net margin of 0.03%. The firm had revenue of $90.25 million during the quarter, compared to analysts’ expectations of $89.34 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its position in FARO Technologies by 5.8% during 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 acquiring an additional 3,915 shares during the last quarter. Royce & Associates LP grew its holdings in FARO Technologies by 1.7% during the second quarter. Royce & Associates LP now owns 701,900 shares of the scientific and technical instruments company’s stock valued at $26,532,000 after purchasing an additional 11,500 shares during the period. Ameriprise Financial Inc. grew its holdings in FARO Technologies by 3.7% during the second quarter. Ameriprise Financial Inc. now owns 195,157 shares of the scientific and technical instruments company’s stock valued at $7,377,000 after purchasing an additional 6,955 shares during the period. Bank of America Corp DE grew its holdings in FARO Technologies by 93.7% during 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 purchasing an additional 12,696 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in FARO Technologies by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,036,966 shares of the scientific and technical instruments company’s stock valued at $39,198,000 after purchasing an additional 59,018 shares during the period. Institutional investors own 97.62% of the company’s stock.
FARO Technologies (NASDAQ:FARO) traded down $0.20 during mid-day trading on Friday, hitting $51.00. The stock had a trading volume of 74,000 shares, compared to its average volume of 95,725. FARO Technologies has a 52-week low of $31.90 and a 52-week high of $54.40.
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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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