Cognex Co. (NASDAQ:CGNX) – Northcoast Research issued their Q2 2019 EPS estimates for Cognex in a research note issued on Wednesday, April 4th. Northcoast Research analyst T. Hayes forecasts that the scientific and technical instruments company will post earnings per share of $0.50 for the quarter. Northcoast Research currently has a “Buy” rating on the stock. Northcoast Research also issued estimates for Cognex’s Q4 2019 earnings at $0.50 EPS and FY2019 earnings at $1.93 EPS.
Cognex (NASDAQ:CGNX) last released its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The business had revenue of $180.37 million for the quarter, compared to the consensus estimate of $178.75 million. During the same period last year, the business earned $0.20 earnings per share. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year.
CGNX stock opened at $49.29 on Thursday. Cognex has a twelve month low of $39.74 and a twelve month high of $72.99. The stock has a market cap of $8,674.02, a P/E ratio of 33.99 and a beta of 1.58.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its holdings in Cognex by 218.6% during the fourth 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 in the last quarter. Wagner Wealth Management LLC acquired a new stake in Cognex during the fourth quarter valued at approximately $134,000. Albion Financial Group UT acquired a new stake in Cognex during the fourth quarter valued at approximately $409,000. Xact Kapitalforvaltning AB acquired a new stake in Cognex during the fourth quarter valued at approximately $1,796,000. Finally, Handelsbanken Fonder AB boosted its holdings in Cognex by 38.6% during the fourth 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 in the last quarter. 82.30% of the stock is currently owned by institutional investors.
In other Cognex news, Director Anthony Sun sold 10,000 shares of Cognex stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $56.49, for a total transaction of $564,900.00. Following the sale, the director now directly owns 294,262 shares of the company’s stock, valued at $16,622,860.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is currently owned by insiders.
Cognex declared that its board has initiated a share repurchase plan on Thursday, February 15th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Thursday, March 1st. Cognex’s payout ratio is 12.41%.
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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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