Brokerages Expect Cognex Corporation (CGNX) Will Announce Quarterly Sales of $178.87 Million
Analysts forecast that Cognex Corporation (NASDAQ:CGNX) will report $178.87 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cognex’s earnings. The highest sales estimate is $182.17 million and the lowest is $176.30 million. Cognex reported sales of $129.32 million during the same quarter last year, which indicates a positive year over year growth rate of 38.3%. The company is expected to issue its next quarterly earnings results on Thursday, February 15th.
According to Zacks, analysts expect that Cognex will report full-year sales of $178.87 million for the current fiscal year, with estimates ranging from $743.90 million to $749.76 million. For the next year, analysts expect that the business will report sales of $845.21 million per share, with estimates ranging from $800.82 million to $897.56 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cognex.
Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The company had revenue of $259.74 million for the quarter, compared to the consensus estimate of $255.95 million. Cognex had a return on equity of 23.31% and a net margin of 34.77%. The company’s revenue for the quarter was up 75.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS.
In other Cognex news, insider John J. Curran sold 12,500 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $132.60, for a total value of $1,657,500.00. Following the transaction, the insider now owns 6,250 shares of the company’s stock, valued at $828,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patrick Alias sold 5,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $143.54, for a total value of $717,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 148,750 shares of company stock worth $19,097,525. Insiders own 5.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CGNX. Aperio Group LLC lifted its stake in shares of Cognex by 31.3% during the second quarter. Aperio Group LLC now owns 29,936 shares of the scientific and technical instruments company’s stock valued at $2,542,000 after acquiring an additional 7,132 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Cognex by 6.0% during the second quarter. Janney Montgomery Scott LLC now owns 9,559 shares of the scientific and technical instruments company’s stock valued at $812,000 after acquiring an additional 541 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Cognex by 1.3% during the second quarter. Great West Life Assurance Co. Can now owns 51,795 shares of the scientific and technical instruments company’s stock valued at $4,395,000 after acquiring an additional 664 shares during the period. CAPROCK Group Inc. acquired a new position in shares of Cognex during the second quarter valued at $220,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Cognex during the second quarter valued at $102,000. 84.25% of the stock is currently owned by institutional investors and hedge funds.
Cognex (NASDAQ CGNX) traded down $5.94 on Tuesday, hitting $63.31. The stock had a trading volume of 3,767,100 shares, compared to its average volume of 1,568,859. The company has a market capitalization of $11,991.38, a PE ratio of 51.10 and a beta of 1.50. Cognex has a 1-year low of $28.91 and a 1-year high of $72.99.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Thursday, November 16th. Cognex’s dividend payout ratio is currently 13.28%.
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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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