Cognex Co. (NASDAQ:CGNX) Expected to Post Earnings of $0.21 Per Share

Brokerages expect that Cognex Co. (NASDAQ:CGNX) will announce earnings of $0.21 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Cognex’s earnings. The highest EPS estimate is $0.22 and the lowest is $0.20. Cognex reported earnings per share of $0.48 in the same quarter last year, which suggests a negative year-over-year growth rate of 56.3%. The firm is expected to announce its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Cognex will report full-year earnings of $0.86 per share for the current year, with EPS estimates ranging from $0.81 to $0.93. For the next year, analysts anticipate that the firm will report earnings of $1.09 per share, with EPS estimates ranging from $0.92 to $1.30. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Cognex.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.05. The business had revenue of $199.00 million for the quarter, compared to the consensus estimate of $194.65 million. Cognex had a net margin of 26.03% and a return on equity of 17.81%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share.

Several equities analysts recently issued reports on CGNX shares. Sanford C. Bernstein downgraded shares of Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 price objective on the stock. in a research note on Tuesday, April 30th. They noted that the move was a valuation call. ValuEngine downgraded shares of Cognex from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Needham & Company LLC downgraded shares of Cognex from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. BidaskClub raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Zacks Investment Research raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.22.

In related news, Director Dianne M. Parrotte sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $45.00, for a total transaction of $40,500.00. Following the completion of the transaction, the director now owns 19,700 shares of the company’s stock, valued at $886,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Natixis boosted its stake in Cognex by 25.7% during the 2nd quarter. Natixis now owns 6,073 shares of the scientific and technical instruments company’s stock valued at $291,000 after acquiring an additional 1,241 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Cognex by 23.5% in the 2nd quarter. Royal Bank of Canada now owns 245,089 shares of the scientific and technical instruments company’s stock worth $11,759,000 after buying an additional 46,691 shares during the last quarter. UBS Group AG lifted its position in shares of Cognex by 7.4% in the 2nd quarter. UBS Group AG now owns 258,803 shares of the scientific and technical instruments company’s stock worth $12,417,000 after buying an additional 17,754 shares during the last quarter. WealthStone Inc. lifted its position in shares of Cognex by 40,085.7% in the 2nd quarter. WealthStone Inc. now owns 8,439 shares of the scientific and technical instruments company’s stock worth $405,000 after buying an additional 8,418 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Cognex by 6.6% in the 2nd quarter. California Public Employees Retirement System now owns 277,700 shares of the scientific and technical instruments company’s stock worth $13,324,000 after buying an additional 17,185 shares during the last quarter. 94.02% of the stock is owned by institutional investors.

Shares of CGNX traded down $1.48 on Friday, hitting $43.24. 787,993 shares of the stock traded hands, compared to its average volume of 1,475,839. The company has a quick ratio of 7.07, a current ratio of 7.92 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $7.64 billion, a P/E ratio of 34.87, a P/E/G ratio of 3.45 and a beta of 2.08. The stock’s 50 day moving average is $43.31 and its two-hundred day moving average is $47.77. Cognex has a 1 year low of $34.88 and a 1 year high of $59.18.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, August 15th. Cognex’s dividend payout ratio (DPR) is 16.13%.

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.

Further Reading: Green Investing

Get a free copy of the Zacks research report on Cognex (CGNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cognex (NASDAQ:CGNX)

Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.