Brokerages expect Cognex Co. (NASDAQ:CGNX) to post $0.30 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Cognex’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.31. Cognex posted earnings per share of $0.32 during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.3%. The business is expected to issue its next quarterly earnings results on Monday, July 30th.
According to Zacks, analysts expect that Cognex will report full year earnings of $1.15 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.20. For the next fiscal year, analysts expect that the business will post earnings of $1.50 per share, with EPS estimates ranging from $1.34 to $1.64. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Cognex.
Cognex (NASDAQ:CGNX) last issued its earnings results on Monday, April 30th. The scientific and technical instruments company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Cognex had a return on equity of 23.08% and a net margin of 21.56%. The business had revenue of $169.57 million during the quarter, compared to the consensus estimate of $170.93 million. During the same period last year, the company earned $0.25 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis.
A number of brokerages have issued reports on CGNX. ValuEngine raised Cognex from a “strong sell” rating to a “sell” rating in a research note on Friday, June 1st. JPMorgan Chase & Co. downgraded Cognex from a “neutral” rating to an “underweight” rating and set a $42.00 target price for the company. in a research note on Monday, May 7th. Zacks Investment Research downgraded Cognex from a “buy” rating to a “sell” rating in a research note on Wednesday, May 2nd. Raymond James raised Cognex from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 1st. Finally, Robert W. Baird cut their target price on Cognex from $62.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, May 1st. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.21.
Shares of CGNX traded down $0.51 during midday trading on Friday, reaching $45.78. The company had a trading volume of 1,016,700 shares, compared to its average volume of 2,059,918. Cognex has a 1-year low of $39.90 and a 1-year high of $72.99. The company has a market capitalization of $8.03 billion, a PE ratio of 31.57 and a beta of 1.57.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 18th were given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Thursday, May 17th. Cognex’s payout ratio is 12.41%.
Cognex announced that its Board of Directors has initiated a share repurchase program on Thursday, February 15th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several large investors have recently modified their holdings of CGNX. BlackRock Inc. increased its position in shares of Cognex by 128.0% during the 4th quarter. BlackRock Inc. now owns 15,768,475 shares of the scientific and technical instruments company’s stock worth $964,400,000 after purchasing an additional 8,852,130 shares during the last quarter. Brown Capital Management LLC increased its position in shares of Cognex by 68.0% during the 4th quarter. Brown Capital Management LLC now owns 6,736,963 shares of the scientific and technical instruments company’s stock worth $412,033,000 after purchasing an additional 2,725,974 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new stake in shares of Cognex during the 4th quarter worth about $117,444,000. Eagle Asset Management Inc. increased its position in shares of Cognex by 87.3% during the 4th quarter. Eagle Asset Management Inc. now owns 2,830,892 shares of the scientific and technical instruments company’s stock worth $172,502,000 after purchasing an additional 1,319,135 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of Cognex by 63.2% during the 4th quarter. OppenheimerFunds Inc. now owns 2,914,913 shares of the scientific and technical instruments company’s stock worth $178,276,000 after purchasing an additional 1,128,402 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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