Wall Street brokerages expect that Cognex Co. (NASDAQ:CGNX) will report earnings per share of $0.20 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Cognex’s earnings. The highest EPS estimate is $0.22 and the lowest is $0.18. Cognex posted earnings per share of $0.26 in the same quarter last year, which would indicate a negative year-over-year growth rate of 23.1%. The company is scheduled to report its next earnings report after the market closes on Monday, April 30th.
On average, analysts expect that Cognex will report full year earnings of $1.40 per share for the current year, with EPS estimates ranging from $1.24 to $1.56. For the next financial year, analysts anticipate that the business will report earnings of $1.82 per share, with EPS estimates ranging from $1.64 to $1.95. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Cognex.
Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The company had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $178.75 million. During the same period last year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis.
Several brokerages have recently issued reports on CGNX. JPMorgan Chase upgraded Cognex from an “underweight” rating to a “neutral” rating and set a $63.00 price target on the stock in a research report on Tuesday, April 3rd. Northcoast Research upgraded Cognex from a “neutral” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank set a $80.00 price target on Cognex and gave the company a “buy” rating in a research report on Friday, January 19th. ValuEngine cut Cognex from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, Zacks Investment Research upgraded Cognex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Cognex currently has an average rating of “Hold” and an average target price of $66.92.
In related news, Director Anthony Sun sold 10,000 shares of Cognex stock in a transaction on Monday, March 12th. The stock was sold at an average price of $56.49, for a total value of $564,900.00. Following the transaction, the director now directly owns 294,262 shares in the company, valued at approximately $16,622,860.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd acquired a new position in shares of Cognex in the 3rd quarter worth $2,272,000. Investment Centers of America Inc. purchased a new position in shares of Cognex during the third quarter valued at $289,000. Temasek Holdings Private Ltd grew its holdings in shares of Cognex by 366.1% during the third quarter. Temasek Holdings Private Ltd now owns 15,660 shares of the scientific and technical instruments company’s stock valued at $1,727,000 after buying an additional 12,300 shares in the last quarter. Graticule Asia Macro Advisors LLC purchased a new position in shares of Cognex during the third quarter valued at $8,246,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Cognex by 2.0% during the third quarter. JPMorgan Chase & Co. now owns 125,995 shares of the scientific and technical instruments company’s stock valued at $13,861,000 after buying an additional 2,493 shares in the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.
Shares of CGNX stock traded down $1.05 during mid-day trading on Friday, hitting $49.29. 1,737,505 shares of the stock traded hands, compared to its average volume of 2,177,699. Cognex has a twelve month low of $39.74 and a twelve month high of $72.99. The stock has a market cap of $8,520.17, a PE ratio of 33.99 and a beta of 1.58.
The business also recently announced a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, March 2nd were issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Thursday, March 1st. Cognex’s payout ratio is 12.41%.
Cognex declared that its Board of Directors has initiated a share buyback program on Thursday, February 15th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
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Cognex 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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