Analysts expect Cognex Co. (NASDAQ:CGNX) to announce earnings of $0.13 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Cognex’s earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.15. Cognex posted earnings of $0.30 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 56.7%. The business is scheduled to report its next earnings results on Thursday, February 13th.
According to Zacks, analysts expect that Cognex will report full year earnings of $0.82 per share for the current financial year, with EPS estimates ranging from $0.81 to $0.83. For the next financial year, analysts forecast that the firm will report earnings of $0.97 per share, with EPS estimates ranging from $0.89 to $1.06. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Cognex.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, October 28th. The scientific and technical instruments company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. Cognex had a net margin of 22.55% and a return on equity of 14.21%. The company had revenue of $183.33 million for the quarter, compared to analyst estimates of $177.78 million. During the same period in the prior year, the company posted $0.45 EPS. The firm’s revenue for the quarter was down 21.1% on a year-over-year basis.
CGNX has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Cognex from a “sell” rating to a “strong sell” rating in a research report on Monday, October 14th. Robert W. Baird upped their target price on shares of Cognex from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Morgan Stanley set a $47.00 target price on shares of Cognex and gave the stock a “hold” rating in a research note on Friday, November 1st. BidaskClub downgraded shares of Cognex from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Zacks Investment Research upgraded shares of Cognex from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $50.10.
In other Cognex news, CEO Robert Willett sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $50.49, for a total value of $5,049,000.00. Following the transaction, the chief executive officer now directly owns 100,000 shares in the company, valued at approximately $5,049,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodor Krantz sold 30,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $51.87, for a total transaction of $1,556,100.00. Following the completion of the transaction, the director now owns 52,500 shares in the company, valued at $2,723,175. The disclosure for this sale can be found here. Insiders sold a total of 396,202 shares of company stock worth $20,619,219 over the last 90 days. Insiders own 5.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGNX. NEXT Financial Group Inc boosted its stake in shares of Cognex by 1,081.8% during the second quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 476 shares in the last quarter. Bartlett & Co. LLC bought a new position in shares of Cognex during the third quarter valued at approximately $25,000. Huntington National Bank boosted its stake in shares of Cognex by 173.6% during the second quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 401 shares in the last quarter. Coastal Capital Group Inc. bought a new position in shares of Cognex during the second quarter valued at approximately $38,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Cognex by 622.3% during the third quarter. Quadrant Capital Group LLC now owns 1,199 shares of the scientific and technical instruments company’s stock valued at $56,000 after purchasing an additional 1,033 shares in the last quarter. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Cognex stock traded down $0.47 during midday trading on Monday, reaching $49.71. The stock had a trading volume of 654,027 shares, compared to its average volume of 1,145,288. The company has a quick ratio of 6.90, a current ratio of 7.71 and a debt-to-equity ratio of 0.01. Cognex has a 52-week low of $34.88 and a 52-week high of $57.31. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 40.09 and a beta of 2.07. The company has a fifty day moving average of $51.37 and a 200 day moving average of $46.59.
The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.055 dividend. This is an increase from Cognex’s previous quarterly dividend of $0.05. This represents a $0.22 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Thursday, November 14th. Cognex’s dividend payout ratio is currently 17.74%.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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