FARO Technologies (NASDAQ:FARO) Issues 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.

FARO Technologies Stock Performance

FARO stock traded up $1.18 during mid-day trading on Friday, hitting $26.88. 502,265 shares of the company were exchanged, compared to its average volume of 172,825. The stock has a market capitalization of $524.16 million, a PE ratio of -34.03 and a beta of 1.26. The business has a 50 day simple moving average of $18.26 and a 200-day simple moving average of $17.64. The company has a current ratio of 2.33, a quick ratio of 2.01 and a debt-to-equity ratio of 0.27. FARO Technologies has a 1-year low of $13.52 and a 1-year high of $26.89.

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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. The firm 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%.

Analyst Upgrades and Downgrades

FARO has been the subject of several analyst reports. Craig Hallum boosted their target price on shares of FARO Technologies from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC boosted their price target on FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday.

Insider Activity

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