Zacks: Analysts Expect Cognex Co. (CGNX) to Post $0.25 EPS

Brokerages forecast that Cognex Co. (NASDAQ:CGNX) will report $0.25 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Cognex’s earnings, with estimates ranging from $0.24 to $0.26. Cognex posted earnings per share of $0.24 in the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. The business is expected to report its next earnings report after the market closes on Thursday, February 15th.

According to Zacks, analysts expect that Cognex will report full-year earnings of $1.39 per share for the current year, with EPS estimates ranging from $1.38 to $1.40. For the next year, analysts expect that the company will report earnings of $1.44 per share, with EPS estimates ranging from $1.26 to $1.54. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Cognex.

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

CGNX has been the topic of several research analyst reports. Zacks Investment Research cut shares of Cognex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Robert W. Baird increased their price target on shares of Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Canaccord Genuity increased their price target on shares of Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. cut shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price target on the stock. in a research note on Wednesday, November 8th. Finally, BidaskClub cut shares of Cognex from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Cognex currently has an average rating of “Hold” and an average target price of $63.00.

Cognex (NASDAQ:CGNX) traded up $0.62 on Tuesday, hitting $69.62. 1,225,176 shares of the stock traded hands, compared to its average volume of 1,364,079. Cognex has a twelve month low of $32.05 and a twelve month high of $72.99. The company has a market capitalization of $12,020.00, a PE ratio of 51.19 and a beta of 1.50.

In related news, CEO Robert Willett sold 100,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 100,000 shares in the company, valued at $12,719,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey Benjamin Miller sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $124.23, for a total transaction of $931,725.00. The disclosure for this sale can be found here. Insiders sold 143,750 shares of company stock worth $18,540,975 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank lifted its holdings in Cognex by 67.3% in the third quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock valued at $151,000 after buying an additional 550 shares during the period. Private Advisor Group LLC acquired a new stake in Cognex in the third quarter worth $214,000. Coldstream Capital Management Inc. acquired a new stake in Cognex in the third quarter worth $203,000. Empirical Finance LLC acquired a new stake in Cognex in the third quarter worth $209,000. Finally, Wealthsource Partners LLC acquired a new stake in Cognex in the third quarter worth $212,000. Institutional investors and hedge funds own 42.25% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Zacks: Analysts Expect Cognex Co. (CGNX) to Post $0.25 EPS” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/01/23/zacks-analysts-expect-cognex-co-cgnx-to-post-0-25-eps.html.

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.

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

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.

Leave a Reply