Wall Street analysts expect that Cognex Co. (NASDAQ:CGNX) will report sales of $186.35 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Cognex’s earnings, with the lowest sales estimate coming in at $183.65 million and the highest estimate coming in at $188.19 million. Cognex reported sales of $180.37 million during the same quarter last year, which indicates a positive year over year growth rate of 3.3%. The firm is scheduled to issue its next earnings results on Thursday, February 21st.

According to Zacks, analysts expect that Cognex will report full-year sales of $799.12 million for the current fiscal year, with estimates ranging from $796.71 million to $801.24 million. For the next fiscal year, analysts anticipate that the business will report sales of $896.83 million, with estimates ranging from $854.30 million to $939.06 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Cognex.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Monday, October 29th. The scientific and technical instruments company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. Cognex had a return on equity of 20.88% and a net margin of 18.52%. The firm had revenue of $232.22 million for the quarter, compared to analyst estimates of $227.15 million. During the same period in the previous year, the company posted $1.14 EPS. Cognex’s revenue for the quarter was down 12.7% on a year-over-year basis.

A number of equities analysts have issued reports on the company. Morgan Stanley cut their target price on Cognex from $52.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 30th. Northcoast Research lowered Cognex from a “buy” rating to a “neutral” rating and set a $54.00 target price on the stock. in a research report on Friday, August 24th. They noted that the move was a valuation call. Zacks Investment Research lowered Cognex from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. DA Davidson began coverage on Cognex in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $57.00 target price on the stock. Finally, BidaskClub downgraded Cognex from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.55.

In other news, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $54.29, for a total value of $271,450.00. Following the completion of the sale, the director now directly owns 7,000 shares in the company, valued at approximately $380,030. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anthony Sun sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $56.04, for a total value of $560,400.00. Following the completion of the sale, the director now owns 264,262 shares of the company’s stock, valued at $14,809,242.48. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System grew its stake in Cognex by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 46,700 shares of the scientific and technical instruments company’s stock worth $2,083,000 after buying an additional 1,100 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Cognex by 5.4% in the second quarter. Envestnet Asset Management Inc. now owns 21,502 shares of the scientific and technical instruments company’s stock worth $960,000 after purchasing an additional 1,104 shares in the last quarter. Advisor Partners LLC grew its stake in shares of Cognex by 26.6% in the second quarter. Advisor Partners LLC now owns 5,418 shares of the scientific and technical instruments company’s stock worth $242,000 after purchasing an additional 1,140 shares in the last quarter. KBC Group NV grew its stake in shares of Cognex by 2.8% in the second quarter. KBC Group NV now owns 42,494 shares of the scientific and technical instruments company’s stock worth $1,896,000 after purchasing an additional 1,144 shares in the last quarter. Finally, Intrust Bank NA grew its stake in shares of Cognex by 11.7% in the second quarter. Intrust Bank NA now owns 13,085 shares of the scientific and technical instruments company’s stock worth $583,000 after purchasing an additional 1,366 shares in the last quarter. Institutional investors and hedge funds own 90.36% of the company’s stock.

Shares of CGNX traded up $0.76 during trading on Friday, reaching $47.42. The company’s stock had a trading volume of 123,943 shares, compared to its average volume of 1,855,856. Cognex has a twelve month low of $36.16 and a twelve month high of $72.99. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 2.58 and a beta of 1.90.

Cognex announced that its Board of Directors has authorized a share buyback plan on Monday, October 29th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.42%. This is an increase from Cognex’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, November 15th. Cognex’s payout ratio is 12.41%.

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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Earnings History and Estimates for Cognex (NASDAQ:CGNX)

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