Cognex (NASDAQ:CGNX) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Cognex (NASDAQ:CGNX) announced its quarterly earnings results on Thursday. The scientific and technical instruments company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02), Fidelity Earnings reports. The company had revenue of $169.77 million for the quarter, compared to analyst estimates of $161.20 million. Cognex had a return on equity of 14.21% and a net margin of 22.55%. Cognex updated its Q1 2020
After-Hours guidance to EPS.

CGNX stock traded up $0.02 during trading on Friday, reaching $53.48. 68,119 shares of the company’s stock were exchanged, compared to its average volume of 865,410. The company has a quick ratio of 6.90, a current ratio of 7.71 and a debt-to-equity ratio of 0.01. Cognex has a 1-year low of $39.98 and a 1-year high of $59.14. The company’s fifty day moving average price is $55.41 and its 200-day moving average price is $50.55. The firm has a market cap of $9.18 billion, a PE ratio of 55.26 and a beta of 2.07.

In related news, CEO Robert Willett sold 70,000 shares of Cognex stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.82, for a total transaction of $3,627,400.00. Following the sale, the chief executive officer now directly owns 70,000 shares in the company, valued at $3,627,400. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

CGNX has been the subject of a number of analyst reports. UBS Group began coverage on Cognex in a research report on Thursday, December 12th. They set a “neutral” rating and a $52.00 price objective for the company. BidaskClub lowered Cognex from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Needham & Company LLC reiterated a “hold” rating on shares of Cognex in a research note on Tuesday, October 29th. Zacks Investment Research downgraded shares of Cognex from a “hold” rating to a “sell” rating in a report on Thursday, January 30th. Finally, Morgan Stanley set a $47.00 price target on shares of Cognex and gave the stock a “hold” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Cognex has a consensus rating of “Hold” and a consensus target price of $50.30.

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 for Cognex (NASDAQ:CGNX)

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