Cognex Co. (NASDAQ:CGNX) – Equities researchers at Northcoast Research upped their Q1 2019 earnings per share (EPS) estimates for Cognex in a note issued to investors on Tuesday, February 19th. Northcoast Research analyst T. Hayes now forecasts that the scientific and technical instruments company will post earnings of $0.14 per share for the quarter, up from their previous estimate of $0.13. Northcoast Research also issued estimates for Cognex’s Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.29 EPS, FY2019 earnings at $1.22 EPS, Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $0.52 EPS, Q4 2020 earnings at $0.36 EPS and FY2020 earnings at $1.51 EPS.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings results on Thursday, February 14th. The scientific and technical instruments company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $193.29 million during the quarter, compared to analysts’ expectations of $184.82 million. Cognex had a return on equity of 19.75% and a net margin of 27.19%. Cognex’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.16) EPS.

A number of other analysts have also recently issued reports on CGNX. Morgan Stanley lowered their target price on Cognex from $52.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 30th. Berenberg Bank assumed coverage on Cognex in a research note on Monday, November 19th. They set a “buy” rating and a $54.00 target price for the company. Zacks Investment Research cut Cognex from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. BidaskClub cut Cognex from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $47.00 target price (up from $45.00) on shares of Cognex in a research note on Thursday, December 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $49.28.

Shares of CGNX stock opened at $51.27 on Wednesday. The stock has a market capitalization of $8.83 billion, a PE ratio of 41.35, a P/E/G ratio of 2.61 and a beta of 1.89. Cognex has a one year low of $34.88 and a one year high of $59.18.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGNX. Advisors Asset Management Inc. boosted its holdings in shares of Cognex by 12.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 26,902 shares of the scientific and technical instruments company’s stock valued at $1,200,000 after buying an additional 2,886 shares during the last quarter. Bank of New York Mellon Corp grew its position in Cognex by 15.8% in the second quarter. Bank of New York Mellon Corp now owns 8,260,702 shares of the scientific and technical instruments company’s stock valued at $368,509,000 after acquiring an additional 1,124,420 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Cognex by 55.3% in the third quarter. Nisa Investment Advisors LLC now owns 34,000 shares of the scientific and technical instruments company’s stock valued at $1,898,000 after acquiring an additional 12,100 shares during the last quarter. Aperio Group LLC grew its position in Cognex by 18.3% in the third quarter. Aperio Group LLC now owns 75,537 shares of the scientific and technical instruments company’s stock valued at $4,216,000 after acquiring an additional 11,674 shares during the last quarter. Finally, Oakbrook Investments LLC bought a new position in Cognex in the third quarter valued at about $318,000. 89.21% of the stock is owned by institutional investors.

Cognex declared that its board has initiated a share buyback plan on Monday, October 29th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, February 28th. Cognex’s payout ratio is presently 16.13%.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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Earnings History and Estimates for Cognex (NASDAQ:CGNX)

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