Brokerages Expect Cognex Co. (CGNX) to Announce $0.56 EPS
Wall Street analysts expect Cognex Co. (NASDAQ:CGNX) to announce earnings of $0.56 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cognex’s earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.49. Cognex posted earnings per share of $0.50 in the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The company is scheduled to issue its next earnings report on Monday, August 7th.
On average, analysts expect that Cognex will report full-year earnings of $2.02 per share for the current financial year, with EPS estimates ranging from $1.86 to $2.17. For the next fiscal year, analysts anticipate that the company will post earnings of $2.34 per share, with EPS estimates ranging from $2.18 to $2.60. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Cognex.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Thursday, February 16th. The scientific and technical instruments company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.13. The firm had revenue of $129.32 million during the quarter, compared to analysts’ expectations of $116.93 million. Cognex had a return on equity of 13.67% and a net margin of 26.59%. The business’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS.
CGNX has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Cognex from a “buy” rating to a “hold” rating in a research note on Tuesday, January 17th. JPMorgan Chase & Co. initiated coverage on shares of Cognex in a research note on Thursday, January 26th. They issued a “neutral” rating and a $66.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $80.00 price objective (up previously from $61.00) on shares of Cognex in a research note on Friday, February 17th. TheStreet downgraded shares of Cognex from a “b” rating to a “c+” rating in a research note on Tuesday, February 21st. Finally, Summit Redstone restated a “buy” rating on shares of Cognex in a research note on Thursday, March 30th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $67.01.
Shares of Cognex (NASDAQ:CGNX) opened at 89.11 on Tuesday. The stock has a 50 day moving average price of $83.31 and a 200-day moving average price of $69.43. Cognex has a 52-week low of $38.71 and a 52-week high of $90.29. The firm has a market cap of $7.72 billion, a PE ratio of 43.36 and a beta of 1.33.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be paid a dividend of $0.085 per share. This is an increase from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, May 31st. This represents a $0.34 annualized dividend and a dividend yield of 0.38%. Cognex’s dividend payout ratio is 20.13%.
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In other news, Director Patrick Alias sold 5,000 shares of the stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $77.85, for a total transaction of $389,250.00. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at $389,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Willett sold 50,000 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $80.69, for a total transaction of $4,034,500.00. Following the sale, the chief executive officer now owns 50,000 shares of the company’s stock, valued at approximately $4,034,500. The disclosure for this sale can be found here. Insiders have sold 105,100 shares of company stock valued at $8,320,214 in the last quarter. Insiders own 6.40% of the company’s stock.
Large investors have recently made changes to their positions in the company. Joho Capital LLC increased its stake in shares of Cognex by 9.7% in the third quarter. Joho Capital LLC now owns 1,690,138 shares of the scientific and technical instruments company’s stock valued at $89,341,000 after buying an additional 149,589 shares during the period. Congress Asset Management Co. MA acquired a new stake in shares of Cognex during the fourth quarter valued at $67,134,000. Bank of New York Mellon Corp increased its stake in shares of Cognex by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 1,039,767 shares of the scientific and technical instruments company’s stock valued at $87,290,000 after buying an additional 35,584 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Cognex by 171.3% in the first quarter. Ameriprise Financial Inc. now owns 1,033,265 shares of the scientific and technical instruments company’s stock valued at $86,741,000 after buying an additional 652,404 shares during the period. Finally, Norges Bank acquired a new stake in shares of Cognex during the fourth quarter valued at $56,999,000. Institutional investors and hedge funds own 90.00% of the company’s stock.
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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