Cognex Corporation (NASDAQ:CGNX) – Investment analysts at Northcoast Research upped their FY2017 EPS estimates for Cognex Corporation in a research report issued on Wednesday, Zacks Investment Research reports. Northcoast Research analyst T. Hayes now forecasts that the scientific and technical instruments company will post earnings of $2.77 per share for the year, up from their prior estimate of $2.62. Northcoast Research also issued estimates for Cognex Corporation’s Q4 2017 earnings at $0.49 EPS, Q1 2018 earnings at $0.47 EPS, Q2 2018 earnings at $0.73 EPS and Q3 2018 earnings at $0.89 EPS.
Cognex Corporation (NASDAQ:CGNX) last issued its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Cognex Corporation had a net margin of 34.77% and a return on equity of 23.31%. The company had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $255.95 million. During the same quarter last year, the company posted $0.61 EPS. The firm’s revenue was up 75.6% compared to the same quarter last year.
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Several other equities research analysts have also recently issued reports on the stock. Wolfe Research raised shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, August 14th. Zacks Investment Research cut shares of Cognex Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Canaccord Genuity boosted their price target on shares of Cognex Corporation from $95.00 to $120.00 and gave the company a “hold” rating in a research report on Tuesday, October 31st. Cowen and Company boosted their price target on shares of Cognex Corporation from $100.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Robert W. Baird boosted their price target on shares of Cognex Corporation from $100.00 to $124.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $106.88.
Cognex Corporation (NASDAQ CGNX) opened at $136.36 on Thursday. The company has a market cap of $11,806.95, a P/E ratio of 50.32 and a beta of 1.48. Cognex Corporation has a 1 year low of $53.50 and a 1 year high of $138.18.
Cognex Corporation’s stock is set to split on Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly minted shares will be issued to shareholders after the closing bell on Friday, December 1st.
Institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. acquired a new position in shares of Cognex Corporation during the second quarter worth about $102,000. Meeder Asset Management Inc. acquired a new position in shares of Cognex Corporation during the second quarter worth about $135,000. Huntington National Bank increased its stake in shares of Cognex Corporation by 67.3% during the third quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock worth $151,000 after acquiring an additional 550 shares during the period. IFP Advisors Inc increased its stake in shares of Cognex Corporation by 46.8% during the second quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock worth $163,000 after acquiring an additional 612 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of Cognex Corporation by 2.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock worth $170,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 85.51% of the company’s stock.
In other news, Director Jeffrey Benjamin Miller sold 3,750 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $134.48, for a total transaction of $504,300.00. Following the transaction, the director now directly owns 3,750 shares in the company, valued at $504,300. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John J. Curran sold 12,500 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $132.60, for a total transaction of $1,657,500.00. Following the transaction, the insider now owns 6,250 shares in the company, valued at $828,750. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,750 shares of company stock worth $24,945,796. 5.60% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a $0.09 dividend. The ex-dividend date is Thursday, November 16th. This is a positive change from Cognex Corporation’s previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a yield of 0.26%. Cognex Corporation’s payout ratio is currently 12.55%.
Cognex Corporation Company Profile
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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