$170.19 Million in Sales Expected for Cognex Co. (CGNX) This Quarter

Brokerages expect Cognex Co. (NASDAQ:CGNX) to post $170.19 million in sales for the current fiscal quarter, Zacks Investment Research 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 reported sales of $134.94 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.1%. The business is expected to report its next quarterly earnings report after the market closes on Monday, April 30th.

On average, analysts expect that Cognex will report full year sales of $170.19 million for the current 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 $1.03 billion per share, with estimates ranging from $1.00 billion to $1.06 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Cognex.

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Cognex (NASDAQ:CGNX) last issued its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.05. The business had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $178.75 million. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The company’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS.

A number of equities analysts recently issued reports on CGNX shares. JPMorgan Chase upgraded Cognex from an “underweight” rating to a “neutral” rating and set a $63.00 target price on the stock in a report on Tuesday, April 3rd. BidaskClub upgraded Cognex from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Deutsche Bank set a $80.00 target price on Cognex and gave the stock a “buy” rating in a report on Friday, January 19th. ValuEngine cut Cognex from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research upgraded Cognex from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.92.

Shares of NASDAQ CGNX traded down $1.05 during mid-day trading on Tuesday, reaching $49.29. The company had a trading volume of 1,737,505 shares, compared to its average volume of 2,177,699. The stock has a market capitalization of $8,520.17, a price-to-earnings ratio of 33.99 and a beta of 1.58. Cognex has a 1-year low of $39.74 and a 1-year high of $72.99.

Cognex declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 15th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were issued a dividend of $0.045 per share. The ex-dividend date was Thursday, March 1st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.37%. Cognex’s dividend payout ratio is 12.41%.

In other news, Director Anthony Sun sold 10,000 shares of Cognex stock in a transaction 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 transaction, the director now owns 294,262 shares in the company, valued at $16,622,860.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. National Planning Corp grew its holdings in shares of Cognex by 19.6% during the third quarter. National Planning Corp now owns 2,876 shares of the scientific and technical instruments company’s stock valued at $330,000 after buying an additional 471 shares in the last quarter. First Republic Investment Management Inc. boosted its position in Cognex by 9.1% during the third quarter. First Republic Investment Management Inc. now owns 6,279 shares of the scientific and technical instruments company’s stock valued at $692,000 after purchasing an additional 525 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Cognex by 11.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,175 shares of the scientific and technical instruments company’s stock valued at $570,000 after purchasing an additional 539 shares during the last quarter. Stifel Financial Corp boosted its position in Cognex by 3.7% during the third quarter. Stifel Financial Corp now owns 16,139 shares of the scientific and technical instruments company’s stock valued at $1,781,000 after purchasing an additional 576 shares during the last quarter. Finally, BB&T Securities LLC boosted its position in Cognex by 7.3% during the third quarter. BB&T Securities LLC now owns 10,786 shares of the scientific and technical instruments company’s stock valued at $1,189,000 after purchasing an additional 736 shares during the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

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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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Earnings History and Estimates for Cognex (NASDAQ:CGNX)

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