Cognex Co. (NASDAQ:CGNX) Expected to Post Earnings of $0.32 Per Share

Brokerages expect Cognex Co. (NASDAQ:CGNX) to post $0.32 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Cognex’s earnings. The highest EPS estimate is $0.35 and the lowest is $0.28. Cognex reported earnings per share of $0.24 in the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The company is expected to issue its next quarterly earnings results on Monday, October 26th.

According to Zacks, analysts expect that Cognex will report full-year earnings of $0.75 per share for the current financial year, with EPS estimates ranging from $0.60 to $0.90. For the next fiscal year, analysts expect that the business will report earnings of $1.06 per share, with EPS estimates ranging from $0.94 to $1.17. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Cognex.

Cognex (NASDAQ:CGNX) last released its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.11). Cognex had a return on equity of 10.67% and a net margin of 20.50%. The company had revenue of $169.10 million during the quarter, compared to analyst estimates of $149.90 million. During the same quarter last year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was down 15.0% on a year-over-year basis.

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird lowered shares of Cognex from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $44.00 to $45.00 in a report on Tuesday, June 2nd. BidaskClub cut shares of Cognex from a “buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Morgan Stanley boosted their price target on shares of Cognex from $39.00 to $55.00 and gave the company an “underweight” rating in a research report on Friday, July 31st. Wolfe Research started coverage on shares of Cognex in a research report on Tuesday, August 25th. They set an “underperform” rating and a $47.00 price target on the stock. Finally, reaffirmed a “sell” rating on shares of Cognex in a research report on Tuesday, June 9th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $52.82.

Shares of Cognex stock traded down $0.76 during trading hours on Wednesday, reaching $63.49. 576,700 shares of the company’s stock were exchanged, compared to its average volume of 1,080,899. Cognex has a 1 year low of $35.20 and a 1 year high of $71.76. The company has a market capitalization of $11.03 billion, a P/E ratio of 78.38 and a beta of 1.67. The business has a fifty day moving average of $66.16 and a two-hundred day moving average of $56.43.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.22 dividend on an annualized basis and a yield of 0.35%. Cognex’s dividend payout ratio is 18.97%.

In other news, CEO Robert Willett sold 100,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $70.51, for a total value of $7,051,000.00. Also, Director Jerry A. Schneider sold 5,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $66.73, for a total value of $333,650.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $333,650. The disclosure for this sale can be found here. Insiders sold a total of 479,522 shares of company stock valued at $32,446,379 over the last three months. Insiders own 5.20% of the company’s stock.

Several institutional investors have recently modified their holdings of CGNX. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Cognex by 9.5% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 154,687 shares of the scientific and technical instruments company’s stock worth $9,238,000 after purchasing an additional 13,405 shares in the last quarter. Principal Financial Group Inc. increased its stake in Cognex by 3.2% in the second quarter. Principal Financial Group Inc. now owns 1,128,457 shares of the scientific and technical instruments company’s stock valued at $67,392,000 after purchasing an additional 35,262 shares during the last quarter. Toronto Dominion Bank increased its stake in Cognex by 14.0% in the second quarter. Toronto Dominion Bank now owns 26,278 shares of the scientific and technical instruments company’s stock valued at $1,569,000 after purchasing an additional 3,220 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Cognex by 4.2% in the second quarter. PNC Financial Services Group Inc. now owns 20,800 shares of the scientific and technical instruments company’s stock valued at $1,241,000 after purchasing an additional 835 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its position in shares of Cognex by 117.8% during the second quarter. AdvisorNet Financial Inc now owns 2,126 shares of the scientific and technical instruments company’s stock worth $127,000 after acquiring an additional 1,150 shares during the last quarter. Institutional investors own 93.62% of the company’s stock.

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 and Estimates for Cognex (NASDAQ:CGNX)

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