FARO Technologies, Inc. (NASDAQ:FARO) – Equities research analysts at Gabelli upped their FY2018 earnings per share estimates for FARO Technologies in a report released on Tuesday. Gabelli analyst H. Susanto now expects that the scientific and technical instruments company will post earnings of $0.90 per share for the year, up from their prior estimate of $0.60. Gabelli also issued estimates for FARO Technologies’ FY2019 earnings at $1.65 EPS, FY2020 earnings at $2.10 EPS and FY2021 earnings at $2.50 EPS.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.14. The business had revenue of $90.25 million for the quarter, compared to analysts’ expectations of $89.34 million. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 price objective (up previously from $39.00) on shares of FARO Technologies in a research note on Sunday, October 29th. Noble Financial reiterated a “buy” rating on shares of FARO Technologies in a research report on Friday, November 3rd. Zacks Investment Research upgraded FARO Technologies from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, November 1st. Craig Hallum set a $55.00 target price on FARO Technologies and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $52.00 target price (up previously from $42.00) on shares of FARO Technologies in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $51.17.

Shares of FARO Technologies (NASDAQ FARO) traded down $1.25 during midday trading on Friday, hitting $49.75. 72,044 shares of the stock were exchanged, compared to its average volume of 141,614. FARO Technologies has a twelve month low of $31.90 and a twelve month high of $54.40.

Hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its holdings in FARO Technologies by 79.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,294 shares of the scientific and technical instruments company’s stock valued at $124,000 after purchasing an additional 1,454 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in FARO Technologies by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,811 shares of the scientific and technical instruments company’s stock valued at $144,000 after purchasing an additional 572 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in FARO Technologies by 3.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,930 shares of the scientific and technical instruments company’s stock valued at $149,000 after purchasing an additional 130 shares in the last quarter. Aperio Group LLC lifted its holdings in FARO Technologies by 2.6% in the 2nd quarter. Aperio Group LLC now owns 5,927 shares of the scientific and technical instruments company’s stock valued at $224,000 after purchasing an additional 150 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in FARO Technologies by 71.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,956 shares of the scientific and technical instruments company’s stock valued at $225,000 after purchasing an additional 2,490 shares in the last quarter. Institutional investors own 97.62% 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.

Earnings History and Estimates for FARO Technologies (NASDAQ:FARO)

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