Brokerages expect Cognex Co. (NASDAQ:CGNX) to report earnings per share of $0.20 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Cognex’s earnings, with the highest EPS estimate coming in at $0.22 and the lowest estimate coming in at $0.18. Cognex posted earnings of $0.26 per share in the same quarter last year, which indicates a negative year over year growth rate of 23.1%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, April 30th.
On average, analysts expect that Cognex will report full-year earnings of $1.40 per share for the current year, with EPS estimates ranging from $1.24 to $1.56. For the next year, analysts expect that the firm will post earnings of $1.82 per share, with EPS estimates ranging from $1.64 to $1.95. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Cognex.
Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The business had revenue of $180.37 million for the quarter, compared to the consensus estimate of $178.75 million. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The firm’s revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS.
Several brokerages recently commented on CGNX. Northcoast Research raised Cognex from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 4th. Deutsche Bank set a $80.00 price objective on Cognex and gave the stock a “buy” rating in a research note on Friday, January 19th. JPMorgan Chase raised Cognex from an “underweight” rating to a “neutral” rating and set a $63.00 price objective on the stock in a research note on Tuesday, April 3rd. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research raised Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $65.21.
Cognex stock traded down $0.69 during mid-day trading on Wednesday, hitting $50.90. 292,834 shares of the company’s stock were exchanged, compared to its average volume of 2,094,343. The company has a market capitalization of $8,789.83, a PE ratio of 35.12 and a beta of 1.58. Cognex has a fifty-two week low of $40.36 and a fifty-two week high of $72.99.
Cognex announced that its board has initiated a stock buyback plan on Thursday, February 15th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other Cognex news, Director Anthony Sun sold 10,000 shares of Cognex stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $56.49, for a total value of $564,900.00. Following the sale, the director now owns 294,262 shares of the company’s stock, valued at approximately $16,622,860.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.40% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Cognex by 128.0% in the 4th quarter. BlackRock Inc. now owns 15,768,475 shares of the scientific and technical instruments company’s stock valued at $964,400,000 after acquiring an additional 8,852,130 shares in the last quarter. Brown Capital Management LLC grew its holdings in shares of Cognex by 68.0% in the 4th quarter. Brown Capital Management LLC now owns 6,736,963 shares of the scientific and technical instruments company’s stock valued at $412,033,000 after acquiring an additional 2,725,974 shares in the last quarter. Carillon Tower Advisers Inc. bought a new position in shares of Cognex in the 4th quarter valued at about $117,444,000. Eagle Asset Management Inc. grew its holdings in shares of Cognex by 87.3% in the 4th quarter. Eagle Asset Management Inc. now owns 2,830,892 shares of the scientific and technical instruments company’s stock valued at $172,502,000 after acquiring an additional 1,319,135 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of Cognex by 63.2% in the 4th quarter. OppenheimerFunds Inc. now owns 2,914,913 shares of the scientific and technical instruments company’s stock valued at $178,276,000 after acquiring an additional 1,128,402 shares in the last quarter. 82.27% of the stock is currently owned by hedge funds and other institutional investors.
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Cognex Company Profile
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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