Wall Street brokerages expect that Cognex Co. (NASDAQ:CGNX) will announce sales of $179.22 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Cognex’s earnings. The lowest sales estimate is $176.49 million and the highest is $184.03 million. Cognex posted sales of $232.22 million during the same quarter last year, which suggests a negative year over year growth rate of 22.8%. The company is scheduled to announce its next quarterly earnings report after the market closes on Monday, October 28th.
On average, analysts expect that Cognex will report full year sales of $734.61 million for the current financial year, with estimates ranging from $719.11 million to $750.35 million. For the next year, analysts forecast that the business will post sales of $816.17 million, with estimates ranging from $767.00 million to $869.40 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Cognex.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. Cognex had a net margin of 26.03% and a return on equity of 17.81%. The firm had revenue of $199.00 million during the quarter, compared to the consensus estimate of $194.65 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year.
Several equities research analysts have weighed in on the stock. DA Davidson lifted their price target on shares of Cognex from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Cowen reaffirmed an “outperform” rating and issued a $60.00 price target (up from $50.00) on shares of Cognex in a research note on Monday, September 23rd. ValuEngine downgraded shares of Cognex from a “sell” rating to a “strong sell” rating in a research note on Monday, October 14th. BidaskClub raised shares of Cognex from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Finally, Goldman Sachs Group cut shares of Cognex from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $45.00 to $36.00 in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $50.09.
In other news, Director Dianne M. Parrotte sold 900 shares of Cognex stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $45.00, for a total transaction of $40,500.00. Following the completion of the transaction, the director now directly owns 19,700 shares in the company, valued at $886,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Stephens Investment Management Group LLC grew its holdings in shares of Cognex by 8.6% during the third quarter. Stephens Investment Management Group LLC now owns 995,359 shares of the scientific and technical instruments company’s stock valued at $48,902,000 after buying an additional 78,900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cognex by 6.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,888 shares of the scientific and technical instruments company’s stock valued at $1,567,000 after buying an additional 1,853 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Cognex by 5.2% during the third quarter. Envestnet Asset Management Inc. now owns 133,949 shares of the scientific and technical instruments company’s stock worth $6,581,000 after purchasing an additional 6,586 shares during the last quarter. Schwab Charitable Fund boosted its holdings in Cognex by 8.9% during the third quarter. Schwab Charitable Fund now owns 4,790 shares of the scientific and technical instruments company’s stock worth $235,000 after purchasing an additional 390 shares during the last quarter. Finally, Advisor Partners LLC boosted its holdings in Cognex by 16.2% during the third quarter. Advisor Partners LLC now owns 5,827 shares of the scientific and technical instruments company’s stock worth $286,000 after purchasing an additional 811 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.
CGNX traded up $0.26 during midday trading on Friday, hitting $51.04. The company had a trading volume of 642,572 shares, compared to its average volume of 793,502. Cognex has a 52 week low of $34.88 and a 52 week high of $57.31. 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 capitalization of $8.67 billion, a price-to-earnings ratio of 41.16 and a beta of 2.08. The stock’s 50 day moving average price is $48.06 and its 200 day moving average price is $46.75.
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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