Zacks: Analysts Anticipate Cognex Corporation (CGNX) Will Announce Earnings of $1.05 Per Share
Equities analysts forecast that Cognex Corporation (NASDAQ:CGNX) will post earnings of $1.05 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Cognex Corporation’s earnings. The highest EPS estimate is $1.08 and the lowest is $1.03. Cognex Corporation posted earnings of $0.61 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 72.1%. The company is scheduled to report its next earnings report on Monday, October 30th.
On average, analysts expect that Cognex Corporation will report full year earnings of $2.62 per share for the current year, with EPS estimates ranging from $2.57 to $2.65. For the next fiscal year, analysts forecast that the business will post earnings of $2.68 per share, with EPS estimates ranging from $2.26 to $3.02. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Cognex Corporation.
Cognex Corporation (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.08. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The firm had revenue of $172.90 million during the quarter, compared to analyst estimates of $169.79 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Cognex Corporation’s quarterly revenue was up 17.4% on a year-over-year basis.
Several research analysts recently weighed in on the stock. Cowen and Company reissued an “outperform” rating and issued a $135.00 target price (up previously from $100.00) on shares of Cognex Corporation in a research note on Tuesday, August 8th. BidaskClub raised shares of Cognex Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Wolfe Research assumed coverage on shares of Cognex Corporation in a research note on Tuesday, July 11th. They issued a “peer perform” rating for the company. Finally, Zacks Investment Research raised shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $82.75.
In other news, Director Bruce Robinson J sold 7,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total transaction of $745,500.00. Following the completion of the transaction, the director now owns 5,625 shares of the company’s stock, valued at approximately $599,062.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jerry A. Schneider sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $102.67, for a total transaction of $513,350.00. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $616,020. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,750 shares of company stock valued at $13,242,726. Corporate insiders own 5.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Segantii Capital Management Ltd purchased a new stake in shares of Cognex Corporation during the 1st quarter worth about $101,000. Daiwa Securities Group Inc. purchased a new stake in shares of Cognex Corporation during the 2nd quarter worth about $102,000. Fifth Third Bancorp grew its holdings in shares of Cognex Corporation by 69.9% during the 1st quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock worth $133,000 after purchasing an additional 650 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Cognex Corporation during the 2nd quarter worth about $135,000. Finally, IFP Advisors Inc grew its holdings in shares of Cognex Corporation by 46.8% during the 2nd quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock worth $163,000 after purchasing an additional 612 shares during the period. 87.25% of the stock is owned by institutional investors.
Shares of Cognex Corporation (CGNX) traded down 0.499% during midday trading on Friday, hitting $113.491. 450,167 shares of the company were exchanged. The stock has a market capitalization of $9.83 billion, a price-to-earnings ratio of 51.846 and a beta of 1.40. The company has a 50-day moving average price of $105.59 and a 200-day moving average price of $92.16. Cognex Corporation has a 52-week low of $49.68 and a 52-week high of $115.35.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Wednesday, August 16th. Cognex Corporation’s dividend payout ratio is currently 15.60%.
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About Cognex Corporation
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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