Cognex Corporation (CGNX) to Post FY2018 Earnings of $2.84 Per Share, Northcoast Research Forecasts
Cognex Corporation (NASDAQ:CGNX) – Research analysts at Northcoast Research lifted their FY2018 earnings per share estimates for Cognex Corporation in a research note issued on Wednesday. Northcoast Research analyst T. Hayes now anticipates that the scientific and technical instruments company will post earnings per share of $2.84 for the year, up from their previous estimate of $2.46. Northcoast Research also issued estimates for Cognex Corporation’s Q4 2018 earnings at $0.74 EPS.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a research note on Wednesday, November 1st. Canaccord Genuity raised their price objective on Cognex Corporation from $95.00 to $120.00 and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Robert W. Baird raised their price objective on Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Wolfe Research upgraded Cognex Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Finally, Cowen and Company restated an “outperform” rating and issued a $135.00 price objective (up from $100.00) on shares of Cognex Corporation in a research note on Tuesday, August 8th. Five investment 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’s stock. The company presently has a consensus rating of “Buy” and an average price target of $99.50.
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Cognex Corporation (NASDAQ CGNX) traded up $1.66 during trading on Monday, reaching $134.54. The company’s stock had a trading volume of 1,038,649 shares, compared to its average volume of 793,506. Cognex Corporation has a 52 week low of $51.26 and a 52 week high of $136.88. The stock has a market capitalization of $11,800.00, a PE ratio of 49.03 and a beta of 1.48.
Cognex Corporation’s stock is scheduled to split on the morning of Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly minted shares will be issued to shareholders after the closing bell on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last released its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Cognex Corporation had a return on equity of 23.31% and a net margin of 34.77%. The company had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $255.95 million. During the same period last year, the business posted $0.61 earnings per share. The firm’s revenue was up 75.6% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.27%. This is a positive change from Cognex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 16th. Cognex Corporation’s dividend payout ratio (DPR) is 12.55%.
In related news, Director Jeffrey Benjamin Miller sold 3,750 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $134.48, for a total transaction of $504,300.00. Following the sale, the director now directly owns 3,750 shares of the company’s stock, valued at $504,300. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Willett sold 8,241 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $103.09, for a total value of $849,564.69. Following the sale, the chief executive officer now directly owns 8,241 shares in the company, valued at $849,564.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,500 shares of company stock worth $25,957,651. 5.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its holdings in Cognex Corporation by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 133,670 shares of the scientific and technical instruments company’s stock valued at $11,349,000 after purchasing an additional 2,551 shares during the period. Airain ltd acquired a new stake in Cognex Corporation in the second quarter valued at approximately $1,074,000. Prudential Financial Inc. grew its holdings in Cognex Corporation by 24.8% in the second quarter. Prudential Financial Inc. now owns 427,606 shares of the scientific and technical instruments company’s stock valued at $36,303,000 after purchasing an additional 84,976 shares during the period. Handelsinvest Investeringsforvaltning grew its holdings in Cognex Corporation by 22.9% in the second quarter. Handelsinvest Investeringsforvaltning now owns 93,400 shares of the scientific and technical instruments company’s stock valued at $7,930,000 after purchasing an additional 17,400 shares during the period. Finally, State Street Corp grew its holdings in Cognex Corporation by 2.2% in the second quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock valued at $184,153,000 after purchasing an additional 45,840 shares during the period. 86.17% of the stock is currently owned by institutional investors.
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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