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

FARO Technologies (NASDAQ:FARO) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.320-0.520 for the period, compared to the consensus 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 Trading Up 4.6 %

Shares of NASDAQ FARO traded up $1.18 during midday trading on Friday, reaching $26.88. The stock had a trading volume of 502,265 shares, compared to its average volume of 91,531. FARO Technologies has a twelve month low of $13.52 and a twelve month high of $26.89. The company has a quick ratio of 2.01, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average price is $18.26 and its 200 day moving average price is $17.64.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.14. The company 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 Analysts Forecast Growth

A number of analysts have commented on FARO shares. Needham & Company LLC boosted their price target on shares of FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday. Craig Hallum increased their target price on shares of FARO Technologies from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday.

Insider Activity

In related 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 owns 133,975 shares in the company, valued at approximately $2,233,363.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by corporate insiders.

About FARO Technologies

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.