Brokerages Expect Cognex Co. (CGNX) to Announce $0.30 EPS

Equities analysts predict that Cognex Co. (NASDAQ:CGNX) will report $0.30 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Cognex’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.29. Cognex posted earnings per share of $0.32 during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.3%. The company is expected to announce its next quarterly earnings report after the market closes on Monday, July 30th.

According to Zacks, analysts expect that Cognex will report full-year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.10 to $1.20. For the next year, analysts anticipate that the firm will report earnings of $1.50 per share, with EPS estimates ranging from $1.34 to $1.64. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Cognex.

Cognex (NASDAQ:CGNX) last announced its earnings results on Monday, April 30th. The scientific and technical instruments company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $169.57 million during the quarter, compared to analysts’ expectations of $170.93 million. Cognex had a return on equity of 23.08% and a net margin of 21.56%. The company’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Cognex from a “buy” rating to a “sell” rating in a research note on Wednesday, May 2nd. JPMorgan Chase & Co. decreased their price target on Cognex from $62.50 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, May 1st. Robert W. Baird decreased their price target on Cognex from $62.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, May 1st. ValuEngine raised Cognex from a “strong sell” rating to a “sell” rating in a research note on Friday, June 1st. Finally, Raymond James raised Cognex from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 1st. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $57.21.

Shares of CGNX stock opened at $43.74 on Tuesday. Cognex has a 52-week low of $39.90 and a 52-week high of $72.99. The company has a market cap of $7.80 billion, a P/E ratio of 30.17 and a beta of 1.57.

The company also recently announced a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Friday, May 18th were given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Thursday, May 17th. Cognex’s dividend payout ratio (DPR) is presently 12.41%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Glenmede Trust Co. NA raised its position in Cognex by 100.0% during the 4th quarter. Glenmede Trust Co. NA now owns 1,830 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 915 shares in the last quarter. Parallel Advisors LLC raised its position in Cognex by 100.1% during the 4th quarter. Parallel Advisors LLC now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $115,000 after purchasing an additional 942 shares in the last quarter. Wagner Wealth Management LLC bought a new stake in Cognex during the 4th quarter valued at $134,000. Braun Bostich & Associates Inc. bought a new stake in Cognex during the 1st quarter valued at $125,000. Finally, Moors & Cabot Inc. bought a new stake in Cognex during the 4th quarter valued at $206,000. 85.16% of the stock is owned by institutional investors and hedge funds.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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Earnings History and Estimates for Cognex (NASDAQ:CGNX)

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