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.
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.
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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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