FARO Technologies (NASDAQ:FARO) Releases Q3 2024 Earnings Guidance

FARO Technologies (NASDAQ:FARO) updated its third quarter 2024 earnings guidance on Friday. The company provided EPS guidance of -0.010-0.190 for the period, compared to the consensus EPS estimate of -0.020. The company issued revenue guidance of $76.0 million-$84.0 million, compared to the consensus revenue estimate of $83.6 million.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FARO. StockNews.com raised FARO Technologies from a hold rating to a buy rating in a research note on Friday, May 3rd. Needham & Company LLC decreased their price target on shares of FARO Technologies from $27.00 to $24.00 and set a buy rating on the stock in a research report on Friday. Finally, Craig Hallum cut their price objective on FARO Technologies from $29.00 to $25.00 and set a buy rating for the company in a research report on Friday.

FARO Technologies Price Performance

FARO stock opened at $15.17 on Monday. The firm has a 50-day moving average of $16.67 and a two-hundred day moving average of $19.17. The firm has a market capitalization of $291.36 million, a PE ratio of -6.74 and a beta of 1.25. The company has a current ratio of 2.35, a quick ratio of 2.03 and a debt-to-equity ratio of 0.28. FARO Technologies has a one year low of $12.34 and a one year high of $24.80.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.14. FARO Technologies had a negative net margin of 11.92% and a negative return on equity of 16.09%. The business had revenue of $82.09 million during the quarter.

Insider Activity

In related news, Chairman Yuval Wasserman sold 8,986 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $18.65, for a total value of $167,588.90. Following the completion of the sale, the chairman now directly owns 202,835 shares of the company’s stock, valued at approximately $3,782,872.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 30,036 shares of company stock worth $518,303. 2.10% of the stock is owned by corporate insiders.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.