Analysts Expect Cognex Co. (CGNX) to Post $0.24 Earnings Per Share

Brokerages forecast that Cognex Co. (NASDAQ:CGNX) will announce earnings per share of $0.24 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Cognex’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.23. Cognex reported earnings per share of $0.36 in the same quarter last year, which would indicate a negative year-over-year growth rate of 33.3%. The company is scheduled to report its next earnings report on Monday, July 29th.

On average, analysts expect that Cognex will report full-year earnings of $1.02 per share for the current fiscal year, with EPS estimates ranging from $0.95 to $1.06. For the next fiscal year, analysts forecast that the company will report earnings of $1.28 per share, with EPS estimates ranging from $1.07 to $1.39. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Cognex.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, April 29th. The scientific and technical instruments company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $173.50 million for the quarter, compared to analyst estimates of $172.16 million. Cognex had a return on equity of 18.90% and a net margin of 26.55%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share.

A number of equities research analysts recently weighed in on CGNX shares. Zacks Investment Research downgraded Cognex from a “buy” rating to a “sell” rating in a research report on Tuesday, April 23rd. ValuEngine upgraded shares of Cognex from a “sell” rating to a “hold” rating in a report on Monday, February 25th. BidaskClub downgraded shares of Cognex from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Morgan Stanley set a $47.00 target price on shares of Cognex and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, Gordon Haskett started coverage on shares of Cognex in a report on Wednesday, April 17th. They issued a “hold” rating and a $54.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $52.20.

Shares of Cognex stock traded up $0.19 during trading on Friday, reaching $47.69. The company’s stock had a trading volume of 14,080 shares, compared to its average volume of 1,318,075. The firm has a market capitalization of $8.15 billion, a PE ratio of 38.37, a PEG ratio of 3.13 and a beta of 1.95. Cognex has a one year low of $34.88 and a one year high of $59.18.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.42%. Cognex’s dividend payout ratio (DPR) is currently 16.13%.

In other Cognex news, Director Theodor Krantz sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total value of $1,595,400.00. Following the sale, the director now owns 52,500 shares in the company, valued at approximately $2,791,950. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John J. Curran sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $49.01, for a total value of $2,450,500.00. Following the completion of the sale, the insider now owns 12,500 shares in the company, valued at approximately $612,625. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGNX. Oregon Public Employees Retirement Fund boosted its stake in shares of Cognex by 3,621.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,422,295 shares of the scientific and technical instruments company’s stock valued at $89,000 after buying an additional 3,330,340 shares in the last quarter. Janus Henderson Group PLC boosted its position in Cognex by 73.5% during the first quarter. Janus Henderson Group PLC now owns 5,351,993 shares of the scientific and technical instruments company’s stock worth $272,203,000 after purchasing an additional 2,268,034 shares in the last quarter. Norges Bank purchased a new stake in Cognex during the fourth quarter worth $68,154,000. Federated Investors Inc. PA boosted its position in Cognex by 2,019.9% during the third quarter. Federated Investors Inc. PA now owns 1,484,085 shares of the scientific and technical instruments company’s stock worth $82,842,000 after purchasing an additional 1,414,078 shares in the last quarter. Finally, Fundsmith LLP purchased a new stake in Cognex during the fourth quarter worth $39,953,000. 97.06% of the stock is currently owned by institutional investors.

Cognex Company Profile

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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Earnings History and Estimates for Cognex (NASDAQ:CGNX)

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