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

FARO Technologies (NASDAQ:FARO) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. 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.

FARO Technologies Trading Up 4.6 %

NASDAQ FARO traded up $1.18 during trading on Friday, reaching $26.88. 502,265 shares of the company traded hands, compared to its average volume of 91,531. The company has a quick ratio of 2.01, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $18.26 and its two-hundred day moving average price is $17.64. 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) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.14. The business had revenue of $82.09 million for the quarter. FARO Technologies had a negative return on equity of 2.47% and a negative net margin of 1.87%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of the company’s stock in a transaction 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 owns 133,975 shares in the company, valued at approximately $2,233,363.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.