Zacks: Analysts Anticipate Cognex Co. (NASDAQ:CGNX) Will Announce Quarterly Sales of $275.97 Million

Wall Street brokerages predict that Cognex Co. (NASDAQ:CGNXGet Rating) will report $275.97 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cognex’s earnings. The lowest sales estimate is $270.10 million and the highest is $281.26 million. Cognex posted sales of $239.03 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.5%. The business is scheduled to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Cognex will report full year sales of $1.14 billion for the current fiscal year. For the next fiscal year, analysts anticipate that the business will report sales of $1.28 billion, with estimates ranging from $1.26 billion to $1.30 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Cognex.

Cognex (NASDAQ:CGNXGet Rating) last issued its quarterly earnings data on Thursday, February 17th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.12. The company had revenue of $244.07 million for the quarter, compared to the consensus estimate of $224.48 million. Cognex had a net margin of 26.99% and a return on equity of 19.22%. During the same quarter in the prior year, the firm earned $0.39 earnings per share.

A number of brokerages recently weighed in on CGNX. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective on shares of Cognex in a research report on Friday, February 18th. StockNews.com began coverage on shares of Cognex in a research report on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet downgraded shares of Cognex from a “b” rating to a “c+” rating in a research report on Tuesday, February 22nd. DA Davidson reduced their target price on shares of Cognex from $85.00 to $80.00 in a report on Friday, February 18th. Finally, Daiwa Capital Markets raised shares of Cognex from a “neutral” rating to a “buy” rating and reduced their target price for the company from $81.00 to $75.00 in a report on Tuesday, January 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.70.

Cognex stock traded down $0.58 during midday trading on Friday, reaching $75.44. 700,190 shares of the company traded hands, compared to its average volume of 1,013,335. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of 48.36 and a beta of 1.65. The business has a 50 day moving average of $69.04 and a two-hundred day moving average of $75.10. Cognex has a 12 month low of $61.51 and a 12 month high of $92.17.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 18th. Shareholders of record on Friday, March 4th were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Thursday, March 3rd. This represents a $0.26 annualized dividend and a yield of 0.34%. Cognex’s dividend payout ratio (DPR) is currently 16.67%.

A number of hedge funds have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Cognex by 0.4% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 32,584 shares of the scientific and technical instruments company’s stock valued at $2,614,000 after buying an additional 124 shares during the last quarter. Truvestments Capital LLC lifted its position in shares of Cognex by 2.6% during the third quarter. Truvestments Capital LLC now owns 5,552 shares of the scientific and technical instruments company’s stock worth $445,000 after purchasing an additional 142 shares in the last quarter. Spire Wealth Management lifted its position in shares of Cognex by 81.0% during the fourth quarter. Spire Wealth Management now owns 333 shares of the scientific and technical instruments company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Cognex by 0.7% during the third quarter. HighTower Advisors LLC now owns 23,049 shares of the scientific and technical instruments company’s stock worth $1,850,000 after purchasing an additional 154 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Cognex by 1.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,514 shares of the scientific and technical instruments company’s stock worth $662,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

About Cognex (Get Rating)

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing 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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