Cognex (NASDAQ:CGNX) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Cognex (NASDAQ:CGNX) posted its quarterly earnings data on Wednesday. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.11), MarketWatch Earnings reports. The company had revenue of $169.10 million for the quarter, compared to analysts’ expectations of $149.90 million. Cognex had a net margin of 20.50% and a return on equity of 10.67%. The business’s quarterly revenue was down 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Cognex updated its Q3 2020
After-Hours guidance to EPS.

Shares of CGNX traded up $0.89 during trading hours on Friday, reaching $66.87. 1,452,313 shares of the company traded hands, compared to its average volume of 752,938. The company’s fifty day moving average price is $60.53 and its two-hundred day moving average price is $53.68. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 82.56 and a beta of 1.79. The company has a quick ratio of 3.59, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. Cognex has a 12 month low of $35.20 and a 12 month high of $66.95.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Thursday, August 13th. Cognex’s payout ratio is 18.97%.

A number of brokerages recently commented on CGNX. HSBC began coverage on shares of Cognex in a research report on Monday, May 25th. They issued a “hold” rating and a $55.00 target price on the stock. BidaskClub upgraded shares of Cognex from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Robert W. Baird cut shares of Cognex from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $44.00 to $45.00 in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. lifted their target price on shares of Cognex from $36.00 to $40.00 and gave the stock an “underweight” rating in a research report on Friday, April 17th. Finally, restated a “sell” rating on shares of Cognex in a research report on Tuesday, June 9th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $53.40.

About Cognex

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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