Cognex Corporation (CGNX) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS
Cognex Corporation (NASDAQ:CGNX) announced its quarterly earnings data on Monday. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09, Briefing.com reports. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The firm had revenue of $259.74 million for the quarter, compared to analyst estimates of $255.95 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. The business’s quarterly revenue was up 75.6% compared to the same quarter last year.
Cognex Corporation (NASDAQ CGNX) traded down 1.39% on Monday, hitting $123.66. 1,348,524 shares of the stock were exchanged. The company has a 50-day moving average of $115.76 and a 200-day moving average of $99.11. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 56.49 and a beta of 1.42. Cognex Corporation has a 12 month low of $49.68 and a 12 month high of $126.00.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, November 17th will be paid a $0.09 dividend. This is a positive change from Cognex Corporation’s previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 0.29%. Cognex Corporation’s dividend payout ratio (DPR) is 15.60%.
In related news, Director Bruce Robinson J sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total transaction of $745,500.00. Following the completion of the sale, the director now directly owns 5,625 shares in the company, valued at $599,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $102.67, for a total transaction of $513,350.00. Following the sale, the director now owns 6,000 shares of the company’s stock, valued at $616,020. The disclosure for this sale can be found here. Insiders have sold 126,750 shares of company stock valued at $13,242,726 over the last three months. 5.60% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on CGNX. Zacks Investment Research lowered shares of Cognex Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Wolfe Research upgraded shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Cowen and Company reiterated an “outperform” rating and set a $135.00 price objective (up previously from $100.00) on shares of Cognex Corporation in a report on Tuesday, August 8th. Finally, BidaskClub upgraded shares of Cognex Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $87.43.
Cognex Corporation Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture 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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