FARO Technologies (NASDAQ:FARO) Releases Q2 2024 Earnings Guidance

FARO Technologies (NASDAQ:FARO - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -0.080-0.120 for the period, compared to the consensus estimate of -0.020. The company issued revenue guidance of $79.0 million-$87.0 million, compared to the consensus revenue estimate of $85.2 million.

FARO Technologies Price Performance

NASDAQ:FARO traded up $0.14 on Wednesday, reaching $18.89. 70,135 shares of the company's stock traded hands, compared to its average volume of 210,097. The company has a quick ratio of 2.00, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. The stock has a 50-day simple moving average of $20.52 and a 200-day simple moving average of $19.84. The firm has a market cap of $358.34 million, a PE ratio of -6.27 and a beta of 1.40. FARO Technologies has a 12 month low of $10.30 and a 12 month high of $24.80.

FARO Technologies (NASDAQ:FARO - Get Free Report) last issued its earnings results on Tuesday, February 27th. The scientific and technical instruments company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.31. FARO Technologies had a negative return on equity of 20.66% and a negative net margin of 15.77%. The firm had revenue of $98.84 million for the quarter.

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a buy rating and issued a $27.00 target price on shares of FARO Technologies in a report on Thursday, February 29th.

Insider Transactions at FARO Technologies

In other FARO Technologies news, VP Jeffrey D. Sexton sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $20.06, for a total transaction of $30,090.00. Following the sale, the vice president now directly owns 27,706 shares of the company's stock, valued at $555,782.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% 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.

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