Q2 2024 Earnings Estimate for Cognex Co. (NASDAQ:CGNX) Issued By DA Davidson

Cognex Co. (NASDAQ:CGNX) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Cognex in a research report issued to clients and investors on Monday, May 6th. DA Davidson analyst M. Summerville expects that the scientific and technical instruments company will post earnings of $0.12 per share for the quarter. The consensus estimate for Cognex’s current full-year earnings is $0.44 per share. DA Davidson also issued estimates for Cognex’s FY2024 earnings at $0.45 EPS and FY2025 earnings at $0.90 EPS.

A number of other research analysts have also commented on the company. The Goldman Sachs Group raised their price objective on Cognex from $36.00 to $41.00 and gave the company a “sell” rating in a research note on Monday. Needham & Company LLC lifted their price target on shares of Cognex from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Robert W. Baird boosted their price objective on shares of Cognex from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Stephens raised their target price on shares of Cognex from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Finally, UBS Group upgraded shares of Cognex from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $42.00 to $54.00 in a report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.15.

Cognex Stock Performance

Shares of NASDAQ CGNX opened at $45.90 on Tuesday. The business has a 50 day simple moving average of $40.93 and a 200 day simple moving average of $39.02. Cognex has a 52 week low of $34.28 and a 52 week high of $59.51. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 79.14 and a beta of 1.48.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Thursday, February 15th. The scientific and technical instruments company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Cognex had a return on equity of 6.81% and a net margin of 11.76%. The firm had revenue of $196.70 million during the quarter, compared to analyst estimates of $189.16 million. During the same period last year, the company posted $0.27 EPS. The business’s quarterly revenue was down 17.8% compared to the same quarter last year.

Hedge Funds Weigh In On Cognex

Several institutional investors have recently bought and sold shares of CGNX. Massmutual Trust Co. FSB ADV grew its stake in shares of Cognex by 94.4% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 286 shares during the period. Neo Ivy Capital Management purchased a new position in Cognex in the 3rd quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Cognex by 303.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 579 shares during the period. Rise Advisors LLC raised its stake in shares of Cognex by 1,239.7% during the 1st quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 719 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its stake in Cognex by 71.1% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 804 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 334 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Insiders Place Their Bets

In other Cognex news, EVP Carl Gerst sold 6,782 shares of Cognex stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $40.54, for a total value of $274,942.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Cognex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a dividend of $0.075 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.30 annualized dividend and a yield of 0.65%. Cognex’s dividend payout ratio is currently 51.72%.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information 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, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.