Wall Street brokerages forecast that FARO Technologies, Inc. (NASDAQ:FARO) will report earnings of $0.30 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for FARO Technologies’ earnings. FARO Technologies reported earnings per share of $0.50 during the same quarter last year, which would suggest a negative year-over-year growth rate of 40%. The company is expected to issue its next quarterly earnings report on Wednesday, February 20th.
On average, analysts expect that FARO Technologies will report full-year earnings of $0.50 per share for the current fiscal year. For the next year, analysts anticipate that the firm will report earnings of $1.38 per share, with EPS estimates ranging from $1.20 to $1.55. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow FARO Technologies.
FARO Technologies (NASDAQ:FARO) last announced its earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.06). FARO Technologies had a positive return on equity of 3.18% and a negative net margin of 2.99%. The firm had revenue of $99.71 million during the quarter, compared to the consensus estimate of $102.53 million. During the same period in the prior year, the company posted $0.10 EPS. The firm’s revenue was up 10.5% on a year-over-year basis.
A number of research analysts recently weighed in on the company. BidaskClub lowered FARO Technologies from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. ValuEngine lowered FARO Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Zacks Investment Research raised FARO Technologies from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Robert W. Baird reduced their price objective on FARO Technologies from $62.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, November 2nd. Finally, Craig Hallum set a $82.00 price objective on FARO Technologies and gave the company a “buy” rating in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. FARO Technologies currently has an average rating of “Hold” and a consensus price target of $64.40.
Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in FARO Technologies by 370.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,065 shares of the scientific and technical instruments company’s stock valued at $197,000 after purchasing an additional 2,413 shares during the last quarter. Ibex Investors LLC purchased a new stake in FARO Technologies during the 3rd quarter valued at $200,000. GSA Capital Partners LLP purchased a new stake in FARO Technologies during the 3rd quarter valued at $205,000. Xact Kapitalforvaltning AB purchased a new stake in FARO Technologies during the 3rd quarter valued at $212,000. Finally, First Trust Advisors LP purchased a new stake in FARO Technologies during the 3rd quarter valued at $255,000. Institutional investors and hedge funds own 94.60% of the company’s stock.
FARO stock opened at $43.30 on Friday. FARO Technologies has a twelve month low of $37.58 and a twelve month high of $70.20. The company has a market cap of $749.99 million, a P/E ratio of 149.31 and a beta of 1.66.
About FARO Technologies
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven, three-dimensional (3D) measurement, imaging, and realization systems. The company offers FaroArm, a combination of six or seven-axis, articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.
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