Cognex Co. (NASDAQ:CGNX) Expected to Announce Earnings of $0.43 Per Share

Analysts forecast that Cognex Co. (NASDAQ:CGNXGet Rating) will announce earnings of $0.43 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Cognex’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.46. Cognex also reported earnings per share of $0.43 during the same quarter last year. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Cognex will report full year earnings of $1.74 per share for the current fiscal year, with EPS estimates ranging from $1.65 to $1.92. For the next fiscal year, analysts forecast that the business will post earnings of $2.07 per share, with EPS estimates ranging from $1.85 to $2.23. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Cognex.

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

Several research firms have recently issued reports on CGNX. Cowen lowered their target price on shares of Cognex from $95.00 to $75.00 in a report on Tuesday. Morgan Stanley lifted their price objective on shares of Cognex from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, April 7th. StockNews.com started coverage on shares of Cognex in a report on Thursday, March 31st. They set a “hold” rating for the company. Daiwa Capital Markets upgraded shares of Cognex from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $81.00 to $75.00 in a report on Tuesday, January 25th. Finally, DA Davidson decreased their price objective on shares of Cognex from $85.00 to $80.00 in a report on Friday, February 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cognex presently has an average rating of “Hold” and a consensus target price of $79.82.

Several institutional investors have recently modified their holdings of CGNX. Spire Wealth Management grew its position 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 worth $26,000 after buying an additional 149 shares during the last quarter. UMB Bank N A MO purchased a new position in shares of Cognex in the 4th quarter worth approximately $31,000. Huntington National Bank grew its position in shares of Cognex by 137.0% in the 4th quarter. Huntington National Bank now owns 448 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 259 shares during the last quarter. Sageworth Trust Co of South Dakota purchased a new position in shares of Cognex in the 4th quarter worth approximately $36,000. Finally, Ceredex Value Advisors LLC purchased a new position in shares of Cognex in the 4th quarter worth approximately $43,000. 88.85% of the stock is currently owned by hedge funds and other institutional investors.

Cognex stock opened at $46.59 on Friday. The firm has a 50-day moving average price of $69.32 and a 200-day moving average price of $72.45. The firm has a market capitalization of $8.09 billion, a PE ratio of 30.06 and a beta of 1.63. Cognex has a 12-month low of $45.66 and a 12-month high of $92.17.

The company 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 $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Thursday, May 19th. 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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