Zacks: Brokerages Anticipate Cognex Co. (CGNX) to Announce $0.30 Earnings Per Share

Brokerages expect Cognex Co. (NASDAQ:CGNX) to announce earnings per share of $0.30 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Cognex’s earnings. The highest EPS estimate is $0.31 and the lowest is $0.29. Cognex reported earnings of $0.32 per share in the same quarter last year, which would suggest a negative year over year growth rate of 6.3%. The firm is scheduled to report its next quarterly earnings results on Monday, July 30th.

On average, analysts expect that Cognex will report full year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.10 to $1.20. For the next financial year, analysts anticipate that the business will post earnings of $1.50 per share, with EPS estimates ranging from $1.34 to $1.64. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that cover Cognex.

Cognex (NASDAQ:CGNX) last announced its earnings results on Monday, April 30th. The scientific and technical instruments company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $169.57 million during the quarter, compared to analysts’ expectations of $170.93 million. Cognex had a return on equity of 23.08% and a net margin of 21.56%. The business’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS.



A number of analysts recently issued reports on the company. Zacks Investment Research cut Cognex from a “buy” rating to a “sell” rating in a research report on Wednesday, May 2nd. Raymond James raised Cognex from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 1st. BidaskClub cut Cognex from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 26th. JPMorgan Chase cut Cognex from a “neutral” rating to an “underweight” rating and set a $42.00 target price for the company. in a research report on Monday, May 7th. Finally, ValuEngine cut Cognex from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $57.21.

Shares of Cognex traded up $0.61, reaching $46.34, during trading hours on Tuesday, according to MarketBeat. The stock had a trading volume of 1,288,052 shares, compared to its average volume of 2,223,383. The stock has a market cap of $7.86 billion, a PE ratio of 31.96 and a beta of 1.61. Cognex has a fifty-two week low of $39.90 and a fifty-two week high of $72.99.

Cognex announced that its board has authorized a share repurchase program on Thursday, February 15th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $0.18 dividend on an annualized basis and a yield of 0.39%. Cognex’s payout ratio is 12.41%.

In other Cognex news, Director Anthony Sun sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 294,262 shares of the company’s stock, valued at approximately $16,622,860.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Cognex by 6.0% during the 1st quarter. BlackRock Inc. now owns 16,708,782 shares of the scientific and technical instruments company’s stock worth $868,691,000 after buying an additional 940,307 shares in the last quarter. Brown Capital Management LLC raised its stake in shares of Cognex by 68.0% during the 4th quarter. Brown Capital Management LLC now owns 6,736,963 shares of the scientific and technical instruments company’s stock worth $412,033,000 after buying an additional 2,725,974 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Cognex by 63.2% during the 4th quarter. OppenheimerFunds Inc. now owns 2,914,913 shares of the scientific and technical instruments company’s stock worth $178,276,000 after buying an additional 1,128,402 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Cognex by 87.3% during the 4th quarter. Eagle Asset Management Inc. now owns 2,830,892 shares of the scientific and technical instruments company’s stock worth $172,502,000 after buying an additional 1,319,135 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Cognex by 39.5% during the 1st quarter. Franklin Resources Inc. now owns 2,636,056 shares of the scientific and technical instruments company’s stock worth $137,048,000 after buying an additional 745,935 shares in the last quarter. 84.64% 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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