Wall Street brokerages forecast that Faro Technologies (NASDAQ:FARO) will announce earnings per share (EPS) of $0.07 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Faro Technologies’ earnings. The lowest EPS estimate is $0.00 and the highest is $0.13. Faro Technologies posted earnings of ($0.22) per share during the same quarter last year, which would indicate a positive year over year growth rate of 131.8%. The business is expected to report its next earnings results on Tuesday, August 7th.
According to Zacks, analysts expect that Faro Technologies will report full-year earnings of $0.84 per share for the current financial year, with EPS estimates ranging from $0.73 to $0.95. For the next financial year, analysts anticipate that the firm will report earnings of $1.91 per share, with EPS estimates ranging from $1.60 to $2.23. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Faro Technologies.
Faro Technologies (NASDAQ:FARO) last released its quarterly earnings data on Wednesday, April 25th. The scientific and technical instruments company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). Faro Technologies had a negative net margin of 3.39% and a positive return on equity of 1.91%. The business had revenue of $92.83 million for the quarter, compared to analysts’ expectations of $92.92 million. During the same period last year, the business earned ($0.09) earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis.
Several equities research analysts recently commented on the company. Zacks Investment Research raised Faro Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. BidaskClub cut Faro Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. ValuEngine cut Faro Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Craig Hallum reissued a “buy” rating and issued a $68.00 target price (up from $60.00) on shares of Faro Technologies in a research report on Friday, February 23rd. Finally, Noble Financial reissued a “buy” rating on shares of Faro Technologies in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Faro Technologies currently has an average rating of “Hold” and an average target price of $58.67.
In other Faro Technologies news, insider Simon Raab sold 11,700 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $59.93, for a total value of $701,181.00. Following the transaction, the insider now directly owns 38,478 shares of the company’s stock, valued at $2,305,986.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jody Storm Gale sold 10,666 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $59.77, for a total value of $637,506.82. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Large investors have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp purchased a new position in Faro Technologies in the first quarter worth about $216,000. Teacher Retirement System of Texas bought a new position in shares of Faro Technologies in the fourth quarter worth about $272,000. Russell Investments Group Ltd. raised its stake in shares of Faro Technologies by 704.1% in the first quarter. Russell Investments Group Ltd. now owns 5,862 shares of the scientific and technical instruments company’s stock worth $342,000 after buying an additional 5,133 shares during the period. Advisory Research Inc. bought a new position in shares of Faro Technologies in the fourth quarter worth about $354,000. Finally, New England Investment & Retirement Group Inc. bought a new position in shares of Faro Technologies in the fourth quarter worth about $355,000. 92.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of Faro Technologies traded up $0.05, hitting $53.80, during trading on Tuesday, MarketBeat reports. 52,900 shares of the company’s stock traded hands, compared to its average volume of 100,224. Faro Technologies has a 1 year low of $32.25 and a 1 year high of $65.35. The stock has a market capitalization of $904.02 million, a PE ratio of 185.52 and a beta of 1.48.
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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