Cognex (CGNX) Scheduled to Post Quarterly Earnings on Wednesday

Cognex (NASDAQ:CGNX) is scheduled to be announcing its earnings results after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.17 per share for the quarter. Cognex has set its Q3 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Cognex (NASDAQ:CGNX) last posted its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $239.00 million during the quarter, compared to analyst estimates of $240.33 million. Cognex had a return on equity of 4.97% and a net margin of 9.29%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. On average, analysts expect Cognex to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Cognex Stock Performance

Shares of CGNX opened at $38.84 on Monday. The stock has a 50-day moving average price of $39.32 and a 200 day moving average price of $42.96. Cognex has a one year low of $34.28 and a one year high of $53.13. The company has a market capitalization of $6.67 billion, a P/E ratio of 66.97 and a beta of 1.41.

Cognex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Thursday, August 15th. Cognex’s dividend payout ratio (DPR) is 51.72%.

Analysts Set New Price Targets

Several analysts recently commented on CGNX shares. Stephens upgraded Cognex from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $45.00 to $55.00 in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their target price on Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. StockNews.com raised Cognex from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. DA Davidson decreased their target price on Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Finally, Vertical Research started coverage on Cognex in a research report on Tuesday, July 23rd. They set a “buy” rating and a $58.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Insider Buying and Selling at Cognex

In other news, Director Dianne M. Parrotte purchased 2,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $38.62 per share, with a total value of $77,240.00. Following the purchase, the director now directly owns 11,340 shares of the company’s stock, valued at $437,950.80. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Dennis Fehr acquired 6,570 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the completion of the transaction, the chief financial officer now directly owns 6,570 shares of the company’s stock, valued at approximately $249,922.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dianne M. Parrotte acquired 2,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $38.62 per share, with a total value of $77,240.00. Following the completion of the transaction, the director now directly owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.