FARO Technologies (NASDAQ:FARO) Issues Q4 2024 Earnings Guidance

FARO Technologies (NASDAQ:FARO) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.320-0.520 for the period, compared to the consensus EPS estimate of 0.310. The company issued revenue guidance of $88.0 million-$96.0 million, compared to the consensus revenue estimate of $91.6 million.

FARO Technologies Stock Up 4.6 %

Shares of FARO stock traded up $1.18 on Friday, hitting $26.88. The stock had a trading volume of 502,265 shares, compared to its average volume of 91,531. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 2.01. FARO Technologies has a twelve month low of $13.52 and a twelve month high of $26.89. The company has a fifty day moving average price of $18.26 and a two-hundred day moving average price of $17.64.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. The firm had revenue of $82.09 million during the quarter. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.47%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FARO shares. Needham & Company LLC upped their target price on shares of FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday. Craig Hallum increased their price objective on shares of FARO Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday.

Insider Transactions at FARO Technologies

In other news, CEO Peter James Lau sold 5,435 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $16.67, for a total transaction of $90,601.45. Following the completion of the transaction, the chief executive officer now directly owns 133,975 shares in the company, valued at $2,233,363.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

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.