Zacks: Analysts Anticipate Cognex Co. (NASDAQ:CGNX) Will Post Earnings of $0.46 Per Share

Equities analysts predict that Cognex Co. (NASDAQ:CGNX) will announce earnings of $0.46 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Cognex’s earnings. The highest EPS estimate is $0.53 and the lowest is $0.41. Cognex posted earnings of $0.49 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.1%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, November 4th.

According to Zacks, analysts expect that Cognex will report full-year earnings of $1.58 per share for the current financial year, with EPS estimates ranging from $1.49 to $1.62. For the next year, analysts anticipate that the business will post earnings of $1.92 per share, with EPS estimates ranging from $1.67 to $2.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Cognex.

Cognex (NASDAQ:CGNX) last released its earnings results on Thursday, August 5th. The scientific and technical instruments company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.05. The business had revenue of $269.16 million for the quarter, compared to analyst estimates of $263.11 million. Cognex had a return on equity of 21.92% and a net margin of 30.96%.

Several brokerages recently weighed in on CGNX. Morgan Stanley cut their price target on shares of Cognex from $79.00 to $74.00 and set an “underweight” rating on the stock in a report on Thursday, October 7th. Needham & Company LLC reissued a “hold” rating on shares of Cognex in a research note on Friday, August 6th. DA Davidson restated a “neutral” rating on shares of Cognex in a report on Tuesday, August 10th. Zacks Investment Research raised Cognex from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Wednesday, August 11th. Finally, HSBC lowered shares of Cognex from a “buy” rating to a “hold” rating and set a $92.00 price objective on the stock. in a report on Friday, August 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $91.50.

In related news, Director Patrick Alias sold 17,500 shares of Cognex stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $87.19, for a total value of $1,525,825.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anthony Sun sold 30,000 shares of Cognex stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $86.41, for a total transaction of $2,592,300.00. Following the sale, the director now directly owns 337,262 shares in the company, valued at approximately $29,142,809.42. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. grew its stake in Cognex by 5.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 65,186 shares of the scientific and technical instruments company’s stock valued at $3,315,000 after purchasing an additional 3,657 shares in the last quarter. Principal Financial Group Inc. grew its position in Cognex by 8.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,205,159 shares of the scientific and technical instruments company’s stock worth $100,016,000 after acquiring an additional 96,042 shares during the last quarter. Acadian Asset Management LLC boosted its position in Cognex by 142.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,538 shares of the scientific and technical instruments company’s stock valued at $128,000 after buying an additional 904 shares during the last quarter. Prudential Financial Inc. boosted its position in Cognex by 137.5% in the 1st quarter. Prudential Financial Inc. now owns 78,457 shares of the scientific and technical instruments company’s stock valued at $6,511,000 after buying an additional 45,420 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Cognex by 9.5% in the 1st quarter. Van ECK Associates Corp now owns 11,196 shares of the scientific and technical instruments company’s stock valued at $929,000 after purchasing an additional 970 shares during the period. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CGNX traded up $0.72 during mid-day trading on Friday, hitting $85.80. 6,862 shares of the company’s stock were exchanged, compared to its average volume of 700,539. Cognex has a 52 week low of $64.23 and a 52 week high of $101.82. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 50.64 and a beta of 1.65. The stock’s 50-day simple moving average is $85.04 and its 200-day simple moving average is $83.33.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Shareholders of record on Friday, August 20th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.28%. The ex-dividend date was Thursday, August 19th. Cognex’s payout ratio is 24.00%.

Cognex Company Profile

Cognex Corp. engages in the provision of machine vision products that capture and analyze visual information in order to automate tasks in processes, where vision is required. The company was founded by Robert J. Shillman, William Silver and Marilyn Matz in 1981 and is headquartered in Natick, MA.

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Earnings History and Estimates for Cognex (NASDAQ:CGNX)

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