Zacks: Brokerages Expect FARO Technologies, Inc. (FARO) Will Post Earnings of $0.05 Per Share

Equities research analysts expect that FARO Technologies, Inc. (NASDAQ:FARO) will report earnings per share of $0.05 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for FARO Technologies’ earnings. The highest EPS estimate is $0.07 and the lowest is $0.03. FARO Technologies reported earnings of $0.19 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 73.7%. The business is scheduled to report its next quarterly earnings report on Tuesday, May 2nd.

According to Zacks, analysts expect that FARO Technologies will report full year earnings of $1.03 per share for the current year, with EPS estimates ranging from $1.00 to $1.10. For the next financial year, analysts forecast that the company will report earnings of $1.39 per share, with EPS estimates ranging from $1.30 to $1.50. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for FARO Technologies.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Wednesday, February 22nd. The scientific and technical instruments company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.14. The firm earned $91.70 million during the quarter, compared to analysts’ expectations of $93.76 million. FARO Technologies had a net margin of 5.06% and a return on equity of 5.45%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS.

A number of research firms have commented on FARO. Zacks Investment Research raised shares of FARO Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 3rd. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price (up previously from $35.00) on shares of FARO Technologies in a research report on Friday, February 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.20.

Hedge funds and other institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in shares of FARO Technologies by 80.3% in the third quarter. Acrospire Investment Management LLC now owns 3,704 shares of the scientific and technical instruments company’s stock worth $133,000 after buying an additional 1,650 shares during the last quarter. Spark Investment Management LLC increased its position in shares of FARO Technologies by 99.4% in the third quarter. Spark Investment Management LLC now owns 105,700 shares of the scientific and technical instruments company’s stock worth $3,799,000 after buying an additional 52,700 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of FARO Technologies by 2.0% in the third quarter. Ameriprise Financial Inc. now owns 196,371 shares of the scientific and technical instruments company’s stock worth $7,061,000 after buying an additional 3,883 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of FARO Technologies by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,690 shares of the scientific and technical instruments company’s stock worth $133,000 after buying an additional 60 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of FARO Technologies by 7.6% in the third quarter. BlackRock Fund Advisors now owns 1,163,631 shares of the scientific and technical instruments company’s stock worth $41,833,000 after buying an additional 82,248 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

FARO Technologies (NASDAQ:FARO) traded up 2.40% during midday trading on Thursday, reaching $34.15. 56,049 shares of the company’s stock traded hands. The firm’s 50-day moving average is $34.20 and its 200 day moving average is $35.75. The firm has a market cap of $569.62 million, a PE ratio of 51.20 and a beta of 1.43. FARO Technologies has a 52-week low of $27.87 and a 52-week high of $40.15.

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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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