Cognex Co. (CGNX) Expected to Announce Quarterly Sales of $171.07 Million

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Equities research analysts forecast that Cognex Co. (NASDAQ:CGNX) will post sales of $171.07 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Cognex’s earnings. The highest sales estimate is $173.00 million and the lowest is $168.83 million. Cognex posted sales of $169.57 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.9%. The business is expected to announce its next quarterly earnings report on Monday, April 29th.

According to Zacks, analysts expect that Cognex will report full-year sales of $879.50 million for the current financial year, with estimates ranging from $848.89 million to $939.06 million. For the next year, analysts forecast that the company will post sales of $989.45 million, with estimates ranging from $943.50 million to $1.05 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Cognex.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Thursday, February 14th. The scientific and technical instruments company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Cognex had a net margin of 27.19% and a return on equity of 19.75%. The firm had revenue of $193.29 million for the quarter, compared to analysts’ expectations of $184.82 million. During the same period in the previous year, the business earned ($0.16) earnings per share. Cognex’s revenue for the quarter was up 5.7% compared to the same quarter last year.

CGNX has been the topic of several recent analyst reports. Zacks Investment Research downgraded Cognex from a “buy” rating to a “hold” rating in a report on Friday, January 25th. BidaskClub downgraded Cognex from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $47.00 price objective (up previously from $45.00) on shares of Cognex in a report on Thursday, December 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Cognex currently has a consensus rating of “Hold” and an average target price of $49.28.

Cognex stock traded down $3.37 during midday trading on Thursday, hitting $50.10. The company’s stock had a trading volume of 1,071,892 shares, compared to its average volume of 1,161,567. Cognex has a 12 month low of $34.88 and a 12 month high of $59.18. The stock has a market cap of $8.59 billion, a PE ratio of 40.40, a price-to-earnings-growth ratio of 2.65 and a beta of 2.01.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, February 28th. This represents a $0.20 annualized dividend and a yield of 0.40%. Cognex’s payout ratio is presently 16.13%.

In other Cognex news, Director Theodor Krantz sold 30,000 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total transaction of $1,595,400.00. Following the sale, the director now owns 52,500 shares in the company, valued at approximately $2,791,950. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.40% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Cognex by 0.4% during the 3rd quarter. BlackRock Inc. now owns 17,842,060 shares of the scientific and technical instruments company’s stock valued at $995,944,000 after acquiring an additional 72,784 shares in the last quarter. Vanguard Group Inc. grew its stake in Cognex by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 14,774,139 shares of the scientific and technical instruments company’s stock valued at $824,693,000 after acquiring an additional 101,127 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Cognex by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 14,774,139 shares of the scientific and technical instruments company’s stock valued at $824,693,000 after buying an additional 101,127 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Cognex by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 8,760,670 shares of the scientific and technical instruments company’s stock valued at $338,776,000 after buying an additional 231,403 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Cognex by 2.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,931,458 shares of the scientific and technical instruments company’s stock valued at $275,296,000 after buying an additional 134,103 shares in the last quarter. 94.78% of the stock is currently owned by institutional investors.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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