Cognex Co. (NASDAQ:CGNX) Expected to Announce Earnings of $0.39 Per Share

Wall Street brokerages predict that Cognex Co. (NASDAQ:CGNXGet Rating) will announce $0.39 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cognex’s earnings, with estimates ranging from $0.37 to $0.41. Cognex also posted earnings of $0.39 per share during the same quarter last year. The business is expected to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Cognex will report full year earnings of $1.74 per share for the current year, with EPS estimates ranging from $1.65 to $1.87. For the next year, analysts expect that the firm will report earnings of $2.09 per share, with EPS estimates ranging from $1.85 to $2.27. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Cognex.

Cognex (NASDAQ:CGNXGet Rating) last announced its earnings results on Thursday, February 17th. The scientific and technical instruments company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.12. Cognex had a net margin of 26.99% and a return on equity of 19.22%. The business had revenue of $244.07 million during the quarter, compared to analysts’ expectations of $224.48 million. During the same quarter in the prior year, the company posted $0.39 earnings per share.

Several research analysts recently commented on the stock. TheStreet upgraded shares of Cognex from a “c+” rating to a “b-” rating in a report on Tuesday. JPMorgan Chase & Co. raised shares of Cognex from an “underweight” rating to a “neutral” rating and dropped their price target for the stock from $80.00 to $68.00 in a research report on Friday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Cognex in a research report on Friday, February 18th. Cowen dropped their price objective on shares of Cognex from $100.00 to $95.00 in a research report on Friday, January 14th. Finally, DA Davidson dropped their price objective on shares of Cognex from $85.00 to $80.00 in a research report on Friday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Cognex has a consensus rating of “Buy” and a consensus price target of $84.50.

CGNX traded down $1.86 during trading hours on Friday, hitting $69.16. 19,839 shares of the company’s stock were exchanged, compared to its average volume of 877,413. Cognex has a 1-year low of $61.51 and a 1-year high of $92.17. The stock’s 50-day moving average is $70.09 and its two-hundred day moving average is $74.41. The stock has a market cap of $12.03 billion, a price-to-earnings ratio of 44.33 and a beta of 1.65.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 18th. Shareholders of record on Friday, March 4th were paid a dividend of $0.065 per share. The ex-dividend date of this dividend was Thursday, March 3rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.38%. Cognex’s payout ratio is 16.67%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Spire Wealth Management boosted its stake in shares of Cognex by 81.0% in the 4th quarter. Spire Wealth Management now owns 333 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. UMB Bank N A MO bought a new position in Cognex in the 4th quarter valued at approximately $31,000. Huntington National Bank raised its holdings in Cognex by 137.0% in the 4th quarter. Huntington National Bank now owns 448 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 259 shares during the last quarter. Sageworth Trust Co of South Dakota bought a new position in Cognex in the 4th quarter valued at approximately $36,000. Finally, Ceredex Value Advisors LLC bought a new position in Cognex in the 4th quarter valued at approximately $43,000. Institutional investors own 88.78% of the company’s stock.

Cognex Company Profile (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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