Zacks: Analysts Anticipate Cognex Co. (NASDAQ:CGNX) Will Announce Earnings of $0.21 Per Share

Wall Street brokerages predict that Cognex Co. (NASDAQ:CGNX) will announce earnings per share (EPS) of $0.21 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cognex’s earnings, with the highest EPS estimate coming in at $0.22 and the lowest estimate coming in at $0.20. Cognex reported earnings per share of $0.48 during the same quarter last year, which would suggest a negative year-over-year growth rate of 56.3%. The firm is expected to report 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 business will post 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 research firms that cover Cognex.

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

CGNX has been the subject of several research analyst reports. ValuEngine lowered shares of Cognex from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Morgan Stanley lowered their price objective on shares of Cognex from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Zacks Investment Research upgraded shares of Cognex from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. BidaskClub lowered shares of Cognex from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Gordon Haskett initiated coverage on shares of Cognex in a research note on Wednesday, April 17th. They set a “hold” rating and a $54.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $50.60.

CGNX traded down $0.77 on Friday, hitting $43.77. The company had a trading volume of 564,467 shares, compared to its average volume of 1,709,174. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.92 and a quick ratio of 7.07. Cognex has a 52-week low of $34.88 and a 52-week high of $59.18. The business has a fifty day simple moving average of $44.05. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 3.31 and a beta of 2.08.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Thursday, August 15th. Cognex’s dividend payout ratio is 16.13%.

Several hedge funds and other institutional investors have recently made changes to their positions in CGNX. Liberty Wealth Management LLC bought a new position in shares of Cognex during the fourth quarter valued at approximately $25,000. NEXT Financial Group Inc increased its position in shares of Cognex by 1,081.8% during the second quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 476 shares in the last quarter. Bremer Bank National Association bought a new stake in shares of Cognex during the first quarter valued at approximately $27,000. Advisory Services Network LLC increased its position in shares of Cognex by 223.0% during the fourth quarter. Advisory Services Network LLC now owns 772 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 533 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of Cognex by 173.6% during the second quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 401 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

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.

Featured Story: Dead Cat Bounce

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.