Wall Street brokerages forecast that FARO Technologies, Inc. (NASDAQ:FARO) will post $90.81 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for FARO Technologies’ earnings, with estimates ranging from $88.00 million to $93.00 million. FARO Technologies posted sales of $79.60 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.1%. The company is scheduled to announce its next earnings report on Tuesday, November 7th.

On average, analysts expect that FARO Technologies will report full-year sales of $90.81 million for the current financial year, with estimates ranging from $346.00 million to $360.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $388.84 million per share, with estimates ranging from $365.00 million to $406.35 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for FARO Technologies.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.34. FARO Technologies had a negative return on equity of 0.13% and a negative net margin of 0.13%. The firm had revenue of $82.68 million during the quarter, compared to the consensus estimate of $87.65 million. During the same period in the previous year, the firm earned $0.20 EPS. The business’s revenue was up 5.3% compared to the same quarter last year.

A number of equities analysts have issued reports on the company. Gabelli downgraded FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded FARO Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. BidaskClub cut FARO Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Noble Financial reissued a “buy” rating on shares of FARO Technologies in a report on Thursday, August 3rd. Finally, Canaccord Genuity increased their target price on FARO Technologies from $38.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. FARO Technologies has an average rating of “Hold” and a consensus price target of $40.60.

Shares of FARO Technologies (NASDAQ:FARO) opened at 33.60 on Wednesday. The firm has a 50-day moving average price of $37.38 and a 200-day moving average price of $36.05. The company’s market cap is $561.39 million. FARO Technologies has a 1-year low of $29.00 and a 1-year high of $40.60.

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Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in shares of FARO Technologies by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,292 shares of the scientific and technical instruments company’s stock worth $502,000 after buying an additional 154 shares during the last quarter. State Street Corp boosted its position in shares of FARO Technologies by 4.0% in the second quarter. State Street Corp now owns 406,941 shares of the scientific and technical instruments company’s stock worth $15,381,000 after buying an additional 15,551 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of FARO Technologies by 13.5% in the second quarter. Voya Investment Management LLC now owns 8,197 shares of the scientific and technical instruments company’s stock worth $310,000 after buying an additional 974 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of FARO Technologies by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,036,966 shares of the scientific and technical instruments company’s stock worth $39,198,000 after buying an additional 59,018 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of FARO Technologies by 20.3% in the second quarter. Parametric Portfolio Associates LLC now owns 35,160 shares of the scientific and technical instruments company’s stock worth $1,329,000 after buying an additional 5,925 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

FARO Technologies Company Profile

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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