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

FARO Technologies (NASDAQ:FARO) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.320-0.520 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Craig Hallum dropped their price objective 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. Needham & Company LLC lowered their price target on shares of FARO Technologies from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

FARO Technologies Stock Up 3.6 %

Shares of NASDAQ FARO traded up $0.66 during mid-day trading on Wednesday, hitting $18.83. 277,992 shares of the stock traded hands, compared to its average volume of 168,938. The stock has a fifty day moving average price of $17.90 and a 200-day moving average price of $17.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. The company has a market cap of $367.13 million, a price-to-earnings ratio of -23.00 and a beta of 1.26. FARO Technologies has a 52 week low of $13.52 and a 52 week high of $24.80.

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

Insider Buying and Selling

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of the company’s stock in a transaction that occurred on 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 directly owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by corporate 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.