Cognex Co. to Post FY2022 Earnings of $1.53 Per Share, DA Davidson Forecasts (NASDAQ:CGNX)

Cognex Co. (NASDAQ:CGNXGet Rating) – Research analysts at DA Davidson lowered their FY2022 EPS estimates for shares of Cognex in a research report issued to clients and investors on Monday, May 9th. DA Davidson analyst M. Summerville now expects that the scientific and technical instruments company will earn $1.53 per share for the year, down from their previous estimate of $1.65.

Several other equities analysts have also recently weighed in on CGNX. StockNews.com started coverage on shares of Cognex in a research note on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised Cognex from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $68.00 in a research note on Friday, February 18th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Cognex in a report on Friday, February 18th. TheStreet upgraded Cognex from a “c+” rating to a “b-” rating in a report on Tuesday, April 19th. Finally, Zacks Investment Research lowered Cognex from a “buy” rating to a “hold” rating in a research report on Tuesday. 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.82.

Cognex stock opened at $48.99 on Wednesday. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 31.61 and a beta of 1.63. The company’s 50 day simple moving average is $69.72 and its 200 day simple moving average is $72.63. Cognex has a fifty-two week low of $47.84 and a fifty-two week high of $92.17.

Cognex (NASDAQ:CGNXGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. Cognex had a net margin of 25.67% and a return on equity of 19.17%. The company had revenue of $282.40 million during the quarter, compared to analysts’ expectations of $277.23 million. During the same quarter in the prior year, the company posted $0.39 EPS. The business’s revenue was up 18.2% on a year-over-year basis.

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Cognex during the 4th quarter valued at $124,388,000. Allspring Global Investments Holdings LLC acquired a new position in Cognex during the 4th quarter valued at about $115,893,000. Alliancebernstein L.P. increased its holdings in shares of Cognex by 11.7% in 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. Wellington Management Group LLP increased its holdings in shares of Cognex by 177.5% in the third quarter. Wellington Management Group LLP now owns 949,170 shares of the scientific and technical instruments company’s stock valued at $76,144,000 after purchasing an additional 607,083 shares during the period. Finally, Credit Suisse AG increased its holdings in shares of Cognex by 51.2% in the fourth quarter. Credit Suisse AG now owns 1,760,599 shares of the scientific and technical instruments company’s stock valued at $136,904,000 after purchasing an additional 596,492 shares during the period. 88.85% of the stock is currently owned by institutional investors.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.53%. Cognex’s payout ratio is currently 16.77%.

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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