Brokerages Expect Cognex Co. (CGNX) Will Post Earnings of $0.25 Per Share

Equities analysts expect Cognex Co. (NASDAQ:CGNX) to report earnings of $0.25 per share for the current quarter, according to Zacks. Five analysts have made estimates for Cognex’s earnings. Cognex reported earnings of $0.30 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 16.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 21st.

On average, analysts expect that Cognex will report full year earnings of $1.23 per share for the current year. For the next year, analysts expect that the business will post earnings of $1.45 per share. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Cognex.

Cognex (NASDAQ:CGNX) last announced its earnings results on Monday, October 29th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. The business had revenue of $232.22 million for the quarter, compared to analysts’ expectations of $227.15 million. Cognex had a return on equity of 20.88% and a net margin of 18.52%. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS.

CGNX has been the subject of a number of recent analyst reports. BidaskClub cut Cognex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Morgan Stanley set a $52.00 price objective on Cognex and gave the stock a “hold” rating in a research report on Thursday, October 11th. DA Davidson initiated coverage on Cognex in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $57.00 price objective for the company. Needham & Company LLC lowered their price objective on Cognex from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Finally, Northcoast Research cut Cognex from a “buy” rating to a “neutral” rating and set a $54.00 price objective for the company. in a research report on Friday, August 24th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $51.76.

Shares of Cognex stock traded up $1.66 during trading on Friday, reaching $44.02. The company’s stock had a trading volume of 1,521,710 shares, compared to its average volume of 1,333,748. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.35 and a beta of 1.90. Cognex has a 1-year low of $36.16 and a 1-year high of $72.29.

Cognex announced that its Board of Directors has approved a share buyback program on Monday, October 29th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the scientific and technical instruments company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.45%. This is a boost from Cognex’s previous quarterly dividend of $0.05. Cognex’s payout ratio is currently 13.79%.

In other Cognex news, Director Anthony Sun sold 10,000 shares of Cognex stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $56.04, for a total transaction of $560,400.00. Following the completion of the sale, the director now owns 264,262 shares of the company’s stock, valued at approximately $14,809,242.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jerry A. Schneider sold 5,000 shares of Cognex stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $54.29, for a total value of $271,450.00. Following the sale, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $380,030. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CGNX. Capital Analysts LLC raised its stake in shares of Cognex by 1,180.6% during the 2nd quarter. Capital Analysts LLC now owns 2,305 shares of the scientific and technical instruments company’s stock valued at $103,000 after buying an additional 2,125 shares during the last quarter. CAPROCK Group Inc. purchased a new position in shares of Cognex during the 3rd quarter valued at about $221,000. Chatham Capital Group Inc. purchased a new position in shares of Cognex during the 3rd quarter valued at about $232,000. Advisor Partners LLC raised its stake in shares of Cognex by 26.6% during the 2nd quarter. Advisor Partners LLC now owns 5,418 shares of the scientific and technical instruments company’s stock valued at $242,000 after buying an additional 1,140 shares during the last quarter. Finally, HMS Capital Management LLC purchased a new position in shares of Cognex during the 3rd quarter valued at about $242,000. 90.47% of the stock is owned by institutional investors.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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