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 Price Performance

FARO traded up $1.18 on Friday, reaching $26.88. The company’s stock had a trading volume of 502,265 shares, compared to its average volume of 91,531. The business’s 50 day moving average is $18.26 and its 200 day moving average is $17.64. FARO Technologies has a 1 year low of $13.52 and a 1 year high of $26.89. 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 (NASDAQ:FARO) last posted its quarterly earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate 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 1.87% and a negative return on equity of 2.47%.

Analyst Ratings Changes

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

Insider Activity at FARO Technologies

In other news, CEO Peter James Lau sold 5,435 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $16.67, for a total value of $90,601.45. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by insiders.

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.