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

FARO Technologies (NASDAQ:FARO) updated its fourth quarter 2024 earnings guidance on Wednesday. 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.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FARO. Needham & Company LLC dropped 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, August 9th. Craig Hallum reduced their price target on shares of FARO Technologies from $29.00 to $25.00 and set a “buy” rating for the company in a report on Friday, August 9th.

FARO Technologies Stock Up 3.6 %

FARO traded up $0.66 during trading on Wednesday, hitting $18.83. The stock had a trading volume of 277,992 shares, compared to its average volume of 168,938. The stock has a 50 day simple moving average of $17.90 and a two-hundred day simple moving average of $17.52. The company has a market capitalization of $367.13 million, a PE ratio of -23.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. FARO Technologies has a twelve month low of $13.52 and a twelve month high of $24.80.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.14. The company had revenue of $82.09 million for the quarter. FARO Technologies had a negative net margin of 4.25% and a negative return on equity of 5.72%.

Insider Activity

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

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.