Wall Street analysts expect FARO Technologies, Inc. (NASDAQ:FARO) to post earnings of $0.36 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for FARO Technologies’ earnings, with estimates ranging from $0.25 to $0.42. FARO Technologies posted earnings per share of $0.21 during the same quarter last year, which indicates a positive year over year growth rate of 71.4%. The firm is scheduled to issue its next earnings results on Wednesday, February 28th.
On average, analysts expect that FARO Technologies will report full-year earnings of $0.10 per share for the current year, with EPS estimates ranging from ($0.05) to $0.21. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.94 per share, with EPS estimates ranging from $0.84 to $1.10. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for FARO Technologies.
A number of research firms have recently commented on FARO. Zacks Investment Research raised shares of FARO Technologies from a “hold” rating to a “strong-buy” rating and set a $54.00 target price on the stock in a research report on Monday, January 1st. Stifel Nicolaus boosted their target price on shares of FARO Technologies from $33.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $53.00 target price (up from $39.00) on shares of FARO Technologies in a research report on Sunday, October 29th. Craig Hallum set a $55.00 target price on shares of FARO Technologies and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, BidaskClub raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $50.50.
Several large investors have recently modified their holdings of FARO. Municipal Employees Retirement System of Michigan increased its stake in shares of FARO Technologies by 59.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,260 shares of the scientific and technical instruments company’s stock worth $239,000 after buying an additional 2,330 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of FARO Technologies in the fourth quarter worth $272,000. Voya Investment Management LLC increased its stake in shares of FARO Technologies by 13.5% in the second quarter. Voya Investment Management LLC now owns 8,197 shares of the scientific and technical instruments company’s stock worth $310,000 after buying an additional 974 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of FARO Technologies by 50.4% in the third quarter. BNP Paribas Arbitrage SA now owns 8,955 shares of the scientific and technical instruments company’s stock worth $343,000 after buying an additional 2,999 shares during the last quarter. Finally, Advisory Research Inc. bought a new stake in shares of FARO Technologies in the fourth quarter worth $354,000. Institutional investors and hedge funds own 97.56% of the company’s stock.
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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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