Zacks: Analysts Anticipate Cognex Corporation (CGNX) to Announce $0.49 Earnings Per Share

Wall Street analysts expect Cognex Corporation (NASDAQ:CGNX) to report earnings per share of $0.49 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cognex’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.47. Cognex reported earnings of $0.47 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The business is expected to announce its next earnings results on Thursday, February 15th.

On average, analysts expect that Cognex will report full-year earnings of $2.77 per share for the current year, with EPS estimates ranging from $2.75 to $2.80. For the next financial year, analysts expect that the business will report earnings of $2.88 per share, with EPS estimates ranging from $2.52 to $3.08. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Cognex.

Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Cognex had a return on equity of 23.31% and a net margin of 34.77%. The firm had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $255.95 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. Cognex’s revenue was up 75.6% compared to the same quarter last year.

CGNX has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Cognex from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Wednesday, November 1st. Canaccord Genuity raised their price target on Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, October 31st. Robert W. Baird raised their price target on Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Wolfe Research upgraded Cognex from a “market perform” rating to an “outperform” rating in a research report on Monday, August 14th. Finally, Cowen restated an “outperform” rating and issued a $67.50 price target (up previously from $50.00) on shares of Cognex in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.86.

In related news, Director Patrick Alias sold 5,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $143.54, for a total transaction of $717,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Willett sold 100,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $127.19, for a total value of $12,719,000.00. Following the sale, the chief executive officer now directly owns 100,000 shares in the company, valued at approximately $12,719,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,750 shares of company stock worth $19,843,025. Corporate insiders own 5.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CGNX. Nisa Investment Advisors LLC boosted its stake in shares of Cognex by 14.3% during the second quarter. Nisa Investment Advisors LLC now owns 11,960 shares of the scientific and technical instruments company’s stock valued at $1,025,000 after acquiring an additional 1,500 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Cognex by 31.3% during the second quarter. Aperio Group LLC now owns 29,936 shares of the scientific and technical instruments company’s stock valued at $2,542,000 after acquiring an additional 7,132 shares during the last quarter. NGAM Advisors L.P. boosted its stake in Cognex by 5.3% in the 2nd quarter. NGAM Advisors L.P. now owns 70,907 shares of the scientific and technical instruments company’s stock worth $6,020,000 after buying an additional 3,588 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Cognex by 6.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 9,559 shares of the scientific and technical instruments company’s stock worth $812,000 after buying an additional 541 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in Cognex by 1.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 51,795 shares of the scientific and technical instruments company’s stock worth $4,395,000 after buying an additional 664 shares during the last quarter. 86.12% of the stock is currently owned by institutional investors and hedge funds.

Cognex (CGNX) opened at $138.49 on Friday. Cognex has a 52-week low of $57.42 and a 52-week high of $145.98. The firm has a market capitalization of $11,991.43, a price-to-earnings ratio of 51.10 and a beta of 1.50.

Cognex shares are set to split on Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly created shares will be issued to shareholders after the market closes on Friday, December 1st.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Thursday, November 16th. Cognex’s payout ratio is currently 13.28%.

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Cognex 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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Earnings History and Estimates for Cognex (NASDAQ:CGNX)

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