$0.43 Earnings Per Share Expected for Cognex Co. (NASDAQ:CGNX) This Quarter

Posted by on Jun 3rd, 2022

Brokerages predict that Cognex Co. (NASDAQ:CGNX – Get Rating) will announce earnings of $0.43 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Cognex’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.40. Cognex also posted earnings per share of $0.43 in the same quarter last year. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Cognex will report full-year earnings of $1.75 per share for the current financial year, with EPS estimates ranging from $1.65 to $1.92. For the next fiscal year, analysts anticipate that the company will post earnings of $2.04 per share, with EPS estimates ranging from $1.85 to $2.23. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Cognex.

Cognex (NASDAQ:CGNX – Get Rating) last issued its earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The firm had revenue of $282.40 million during the quarter, compared to analyst estimates of $277.23 million. Cognex had a net margin of 25.67% and a return on equity of 19.48%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share.

CGNX has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $95.00 price objective on shares of Cognex in a research report on Friday, February 18th. JPMorgan Chase & Co. raised shares of Cognex from an “underweight” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $68.00 in a research note on Friday, February 18th. StockNews.com started coverage on shares of Cognex in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Cowen decreased their price target on shares of Cognex from $95.00 to $75.00 in a research note on Tuesday, May 10th. Finally, TheStreet downgraded shares of Cognex from a “b-” rating to a “c+” rating in a research note on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.00.

Shares of NASDAQ:CGNX opened at $49.80 on Friday. The company has a 50-day moving average price of $62.61 and a two-hundred day moving average price of $68.29. Cognex has a twelve month low of $44.60 and a twelve month high of $92.17. The firm has a market capitalization of $8.65 billion, a PE ratio of 32.13 and a beta of 1.65.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Thursday, May 19th. Cognex’s dividend payout ratio is presently 16.77%.

In other Cognex news, Director Dianne M. Parrotte bought 3,000 shares of the firm’s stock in a transaction on Thursday, May 12th. The stock was acquired at an average price of $46.00 per share, with a total value of $138,000.00. Following the transaction, the director now owns 3,608 shares in the company, valued at $165,968. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Cognex by 0.4% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 32,584 shares of the scientific and technical instruments company’s stock valued at $2,614,000 after purchasing an additional 124 shares during the last quarter. Spire Wealth Management increased its position in shares of Cognex by 81.0% during the 4th quarter. Spire Wealth Management now owns 333 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Cognex by 0.7% during the 3rd quarter. HighTower Advisors LLC now owns 23,049 shares of the scientific and technical instruments company’s stock valued at $1,850,000 after purchasing an additional 154 shares during the last quarter. Beese Fulmer Investment Management Inc. grew its stake in shares of Cognex by 6.2% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 2,760 shares of the scientific and technical instruments company’s stock valued at $213,000 after acquiring an additional 160 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Cognex by 1.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,514 shares of the scientific and technical instruments company’s stock valued at $662,000 after acquiring an additional 162 shares during the period. 88.85% of the stock is owned by hedge funds and other institutional investors.

Cognex Company Profile (Get Rating)

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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