Equities research analysts expect Cognex Co. (NASDAQ:CGNX) to post $170.19 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Cognex’s earnings. The highest sales estimate is $171.20 million and the lowest is $169.44 million. Cognex posted sales of $134.94 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.1%. The company is expected to report its next quarterly earnings results on Monday, May 7th.
According to Zacks, analysts expect that Cognex will report full-year sales of $170.19 million for the current financial year, with estimates ranging from $824.21 million to $904.29 million. For the next financial year, analysts anticipate that the company will post sales of $1.02 billion per share, with estimates ranging from $1.00 billion to $1.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Cognex.
Cognex (NASDAQ:CGNX) last posted its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Cognex had a net margin of 23.69% and a return on equity of 24.23%. The business had revenue of $180.37 million for the quarter, compared to analyst estimates of $178.75 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year.
CGNX has been the topic of several analyst reports. Zacks Investment Research lowered shares of Cognex from a “strong-buy” rating to a “sell” rating in a report on Tuesday, January 2nd. Deutsche Bank set a $80.00 price target on shares of Cognex and gave the stock a “buy” rating in a research report on Friday, January 19th. ValuEngine downgraded shares of Cognex from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, BidaskClub downgraded shares of Cognex from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $66.83.
In other Cognex news, Director Anthony Sun sold 10,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $56.49, for a total transaction of $564,900.00. Following the transaction, the director now directly owns 294,262 shares in the company, valued at approximately $16,622,860.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its position in Cognex by 218.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 14,982 shares of the scientific and technical instruments company’s stock valued at $916,000 after purchasing an additional 10,280 shares during the period. Wagner Wealth Management LLC acquired a new position in Cognex during the 4th quarter valued at about $134,000. Albion Financial Group UT acquired a new position in Cognex during the 4th quarter valued at about $409,000. Xact Kapitalforvaltning AB acquired a new position in Cognex during the 4th quarter valued at about $1,796,000. Finally, Handelsbanken Fonder AB lifted its position in Cognex by 38.6% during the 4th quarter. Handelsbanken Fonder AB now owns 395,000 shares of the scientific and technical instruments company’s stock valued at $24,158,000 after purchasing an additional 110,000 shares during the period. Institutional investors own 81.95% of the company’s stock.
Cognex (NASDAQ CGNX) traded up $1.72 on Friday, hitting $56.15. 2,033,402 shares of the stock traded hands, compared to its average volume of 2,046,857. Cognex has a fifty-two week low of $38.67 and a fifty-two week high of $72.99. The company has a market cap of $9,559.05, a price-to-earnings ratio of 57.30 and a beta of 1.54.
Cognex declared that its Board of Directors has initiated a stock buyback program on Thursday, February 15th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, March 2nd were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $0.18 annualized dividend and a yield of 0.32%. Cognex’s dividend payout ratio (DPR) is 18.37%.
Cognex Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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