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 earnings per share (EPS) guidance of -0.010-0.190 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com raised FARO Technologies from a hold rating to a buy rating in a report on Friday, May 3rd. Craig Hallum decreased their price target on FARO Technologies from $29.00 to $25.00 and set a buy rating on the stock in a research report on Friday. Finally, Needham & Company LLC decreased their price target on FARO Technologies from $27.00 to $24.00 and set a buy rating on the stock in a research report on Friday.

FARO Technologies Stock Performance

NASDAQ:FARO opened at $15.17 on Friday. The stock has a market cap of $291.36 million, a P/E 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. The stock’s 50-day moving average is $16.67 and its 200-day moving average is $19.19. FARO Technologies has a 1-year low of $12.34 and a 1-year high of $24.80.

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

Insider Buying and Selling

In other FARO Technologies news, Director Yuval Wasserman sold 10,075 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $16.64, for a total value of $167,648.00. Following the transaction, the director now directly owns 183,221 shares of the company’s stock, valued at $3,048,797.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 30,036 shares of company stock valued at $518,303 over the last ninety days. 2.10% of the stock is owned by company 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.