Brokerages forecast that Cognex Co. (NASDAQ:CGNX) will report earnings per share of $0.21 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cognex’s earnings. The highest EPS estimate is $0.22 and the lowest is $0.20. Cognex posted earnings per share of $0.45 during the same quarter last year, which suggests a negative year over year growth rate of 53.3%. The business is scheduled to issue its next quarterly earnings results on Monday, November 4th.
According to Zacks, analysts expect that Cognex will report full year earnings of $0.86 per share for the current year, with EPS estimates ranging from $0.80 to $0.93. For the next fiscal year, analysts forecast that the company will report earnings of $1.09 per share, with EPS estimates ranging from $0.92 to $1.30. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Cognex.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.05. The business had revenue of $199.00 million for the quarter, compared to analysts’ expectations of $194.65 million. Cognex had a return on equity of 17.81% and a net margin of 26.03%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. BidaskClub upgraded Cognex from a “hold” rating to a “buy” rating in a research note on Saturday. ValuEngine cut Cognex from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Morgan Stanley cut their price target on Cognex from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Goldman Sachs Group cut Cognex from a “neutral” rating to a “sell” rating and cut their price target for the company from $45.00 to $36.00 in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $50.22.
In other Cognex news, Director Dianne M. Parrotte sold 900 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $40,500.00. Following the transaction, the director now owns 19,700 shares of the company’s stock, valued at $886,500. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of CGNX. Dimensional Fund Advisors LP grew its holdings in shares of Cognex by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 864,848 shares of the scientific and technical instruments company’s stock worth $33,441,000 after buying an additional 97,348 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cognex by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,982,117 shares of the scientific and technical instruments company’s stock worth $76,607,000 after buying an additional 102,876 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Cognex by 52.6% during the first quarter. SG Americas Securities LLC now owns 13,253 shares of the scientific and technical instruments company’s stock worth $674,000 after buying an additional 4,566 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in shares of Cognex during the first quarter worth about $275,000. Finally, Cornerstone Advisors Inc. grew its holdings in shares of Cognex by 123.9% during the first quarter. Cornerstone Advisors Inc. now owns 1,001 shares of the scientific and technical instruments company’s stock worth $51,000 after buying an additional 554 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors.
Cognex stock traded down $0.06 during midday trading on Tuesday, reaching $49.79. The company’s stock had a trading volume of 497,125 shares, compared to its average volume of 1,228,261. Cognex has a fifty-two week low of $34.88 and a fifty-two week high of $59.18. The company has a quick ratio of 7.07, a current ratio of 7.92 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.43 billion, a P/E ratio of 40.15, a P/E/G ratio of 3.90 and a beta of 2.08. The business has a 50-day simple moving average of $44.98 and a 200-day simple moving average of $47.34.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, August 15th. Cognex’s dividend payout ratio is presently 16.13%.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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