$275.97 Million in Sales Expected for Cognex Co. (NASDAQ:CGNX) This Quarter

Wall Street analysts expect Cognex Co. (NASDAQ:CGNXGet Rating) to report $275.97 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cognex’s earnings, with the lowest sales estimate coming in at $270.10 million and the highest estimate coming in at $281.26 million. Cognex reported sales of $239.03 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.5%. The company is expected to announce its next quarterly 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 year. For the next fiscal year, analysts expect that the company will post sales of $1.28 billion, with estimates ranging from $1.26 billion to $1.30 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Cognex.

Cognex (NASDAQ:CGNXGet Rating) last released its quarterly earnings results on Thursday, February 17th. The scientific and technical instruments company reported $0.30 earnings per share (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 company had revenue of $244.07 million for the quarter, compared to analysts’ expectations of $224.48 million. During the same period last year, the company earned $0.39 EPS.

CGNX has been the topic of several research analyst reports. Cowen decreased their target price on shares of Cognex from $100.00 to $95.00 in a research report on Friday, January 14th. JPMorgan Chase & Co. raised shares of Cognex from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $68.00 in a research report on Friday, February 18th. TheStreet raised shares of Cognex from a “c+” rating to a “b-” rating in a research report on Tuesday, April 19th. Morgan Stanley raised their target price on shares of Cognex from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 7th. Finally, StockNews.com initiated coverage on shares of Cognex in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $84.50.

Cognex stock opened at $69.18 on Friday. Cognex has a 12-month low of $61.51 and a 12-month high of $92.17. The stock has a market capitalization of $12.03 billion, a P/E ratio of 44.35 and a beta of 1.65. The firm’s 50-day moving average is $70.21 and its two-hundred day moving average is $74.28.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Cognex by 1.5% during the fourth quarter. BlackRock Inc. now owns 19,214,328 shares of the scientific and technical instruments company’s stock valued at $1,494,108,000 after purchasing an additional 288,272 shares during the period. Alliancebernstein L.P. raised its stake in shares of Cognex by 11.7% during the fourth quarter. Alliancebernstein L.P. now owns 5,931,739 shares of the scientific and technical instruments company’s stock valued at $461,252,000 after purchasing an additional 619,196 shares during the period. State Street Corp raised its stake in shares of Cognex by 2.5% during the fourth quarter. State Street Corp now owns 5,733,132 shares of the scientific and technical instruments company’s stock valued at $445,808,000 after purchasing an additional 141,965 shares during the period. Nordea Investment Management AB raised its stake in shares of Cognex by 2.6% during the fourth quarter. Nordea Investment Management AB now owns 3,349,981 shares of the scientific and technical instruments company’s stock valued at $261,248,000 after purchasing an additional 85,293 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in shares of Cognex by 5.2% during the third quarter. Neuberger Berman Group LLC now owns 2,909,031 shares of the scientific and technical instruments company’s stock valued at $231,305,000 after purchasing an additional 143,491 shares during the period. Hedge funds and other institutional investors 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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