Analysts Expect FARO Technologies, Inc. (FARO) Will Post Earnings of $0.36 Per Share

Wall Street brokerages expect that FARO Technologies, Inc. (NASDAQ:FARO) will report earnings per share (EPS) of $0.36 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for FARO Technologies’ earnings, with the lowest EPS estimate coming in at $0.25 and the highest estimate coming in at $0.42. FARO Technologies posted earnings per share of $0.21 during the same quarter last year, which would indicate a positive year-over-year growth rate of 71.4%. The business is expected to announce its next earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that FARO Technologies will report full-year earnings of $0.10 per share for the current fiscal year, with EPS estimates ranging from ($0.05) to $0.21. For the next year, analysts forecast that the firm will report earnings of $0.86 per share, with EPS estimates ranging from $0.60 to $1.10. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow FARO Technologies.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.14. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. The firm had revenue of $90.25 million during the quarter, compared to analyst estimates of $89.34 million. During the same period in the previous year, the business posted $0.07 EPS. FARO Technologies’s revenue was up 13.4% on a year-over-year basis.

A number of research firms have commented on FARO. Gabelli downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Craig Hallum set a $60.00 price target on shares of FARO Technologies and gave the stock a “buy” rating in a research report on Monday, November 27th. Stifel Nicolaus set a $33.00 price target on shares of FARO Technologies and gave the stock a “hold” rating in a research report on Friday, October 6th. Zacks Investment Research upgraded shares of FARO Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, ValuEngine upgraded shares of FARO Technologies from a “sell” rating to a “hold” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $51.17.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FARO. Vident Investment Advisory LLC raised its holdings in shares of FARO Technologies by 62.7% during the third quarter. Vident Investment Advisory LLC now owns 564,729 shares of the scientific and technical instruments company’s stock valued at $21,601,000 after acquiring an additional 217,544 shares during the period. Tikvah Management LLC acquired a new stake in shares of FARO Technologies during the third quarter valued at approximately $13,444,000. Prospector Partners LLC raised its holdings in shares of FARO Technologies by 9.9% during the third quarter. Prospector Partners LLC now owns 55,500 shares of the scientific and technical instruments company’s stock valued at $2,123,000 after acquiring an additional 5,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of FARO Technologies by 5.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,096,494 shares of the scientific and technical instruments company’s stock valued at $41,941,000 after acquiring an additional 59,528 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of FARO Technologies by 9.2% during the third quarter. Wells Fargo & Company MN now owns 13,692 shares of the scientific and technical instruments company’s stock valued at $524,000 after acquiring an additional 1,156 shares during the period. Institutional investors and hedge funds own 97.62% of the company’s stock.

Shares of FARO Technologies (NASDAQ FARO) opened at $50.50 on Wednesday. FARO Technologies has a 52-week low of $31.90 and a 52-week high of $54.40.

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About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

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Earnings History and Estimates for FARO Technologies (NASDAQ:FARO)

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