Cognex (CGNX) to Release Quarterly Earnings on Thursday

Cognex (NASDAQ:CGNX) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect Cognex to post earnings of $0.08 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Cognex (NASDAQ:CGNX) last issued its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The firm had revenue of $196.70 million for the quarter, compared to the consensus estimate of $189.16 million. Cognex had a net margin of 13.52% and a return on equity of 6.86%. The business’s revenue was down 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, analysts expect Cognex to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Cognex Stock Up 0.3 %

Shares of CGNX opened at $41.54 on Wednesday. The company has a market capitalization of $7.13 billion, a P/E ratio of 62.94 and a beta of 1.49. Cognex has a twelve month low of $34.28 and a twelve month high of $59.51. The firm has a 50 day moving average of $40.51 and a 200 day moving average of $38.81.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Wednesday, February 28th. Cognex’s dividend payout ratio is currently 45.46%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup increased their price objective on Cognex from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Truist Financial started coverage on shares of Cognex in a report on Thursday, March 14th. They set a “buy” rating and a $47.00 price objective for the company. UBS Group upgraded shares of Cognex from a “neutral” rating to a “buy” rating and raised their target price for the stock from $42.00 to $54.00 in a report on Tuesday, March 19th. Finally, StockNews.com cut Cognex from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.70.

Insider Activity

In related news, EVP Carl Gerst sold 6,782 shares of the stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

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.