Cognex Corporation Plans Quarterly Dividend of $0.09 (NASDAQ:CGNX)

Cognex Corporation (NASDAQ:CGNX) declared a quarterly dividend on Wednesday, May 6th. Shareholders of record on Thursday, May 21st will be given a dividend of 0.085 per share by the scientific and technical instruments company on Thursday, June 4th. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 21st.

Cognex has decreased its dividend by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Cognex has a dividend payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cognex to earn $1.22 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 27.9%.

Cognex Trading Up 13.5%

Shares of CGNX traded up $8.40 during mid-day trading on Thursday, hitting $70.66. 975,433 shares of the company’s stock were exchanged, compared to its average volume of 2,106,008. Cognex has a fifty-two week low of $28.56 and a fifty-two week high of $69.10. The firm has a market capitalization of $11.80 billion, a P/E ratio of 103.72 and a beta of 1.48. The business’s 50 day moving average is $52.51 and its two-hundred day moving average is $45.06.

Cognex (NASDAQ:CGNX) last announced its earnings results on Wednesday, February 11th. The scientific and technical instruments company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Cognex had a net margin of 11.51% and a return on equity of 9.02%. The business had revenue of $252.34 million during the quarter, compared to the consensus estimate of $238.92 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts forecast that Cognex will post 0.97 earnings per share for the current year.

About Cognex

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.