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.

Wall Street Analyst Weigh In

Several brokerages recently commented on FARO. Craig Hallum lifted their target price on shares of FARO Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC lifted their target price on shares of FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday.

FARO Technologies Price Performance

Shares of FARO traded up $1.18 during trading hours on Friday, hitting $26.88. The company had a trading volume of 502,265 shares, compared to its average volume of 91,531. FARO Technologies has a 52-week low of $13.52 and a 52-week high of $26.89. The firm has a fifty day moving average price of $18.26 and a 200-day moving average price of $17.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 2.01.

FARO Technologies (NASDAQ:FARO) last issued its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. FARO Technologies had a negative return on equity of 2.47% and a negative net margin of 1.87%. The business had revenue of $82.09 million during the quarter.

Insiders Place Their Bets

In other news, CEO Peter James Lau sold 5,435 shares of the company’s 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 sale, the chief executive officer now owns 133,975 shares of the company’s stock, valued at $2,233,363.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by 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.