Cognex Corporation (NASDAQ:CGNX) Announces $0.08 Quarterly Dividend

Key Points

• Cognex Corporation announced a quarterly dividend of $0.08 per share, payable on August 28th, representing an annualized dividend of $0.32 and a yield of 0.95%.
• The company reported quarterly earnings of $0.19 per share, missing analysts' expectations of $0.23, with analysts predicting a future earnings per share of $0.87.
• Cognex's stock experienced a 1.5% decline, trading at $33.76, while institutional investors hold 88.12% of the company's shares.

Cognex Corporation (NASDAQ:CGNX - Get Free Report) announced a quarterly dividend on Wednesday, July 30th, RTT News reports. Investors of record on Thursday, August 14th will be given a dividend of 0.08 per share by the scientific and technical instruments company on Thursday, August 28th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 14th.

Cognex has a payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cognex to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 36.8%.

Cognex Price Performance

CGNX traded down $0.30 during trading on Friday, reaching $40.47. 3,512,890 shares of the stock traded hands, compared to its average volume of 1,975,584. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 57.00 and a beta of 1.47. Cognex has a fifty-two week low of $22.67 and a fifty-two week high of $44.17. The stock's 50-day simple moving average is $32.25 and its two-hundred day simple moving average is $31.81.

Cognex (NASDAQ:CGNX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. Cognex had a return on equity of 6.65% and a net margin of 13.13%. The company had revenue of $249.09 million during the quarter, compared to analysts' expectations of $246.70 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business's quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts anticipate that Cognex will post 0.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CGNX. Citigroup restated a "neutral" rating and set a $37.00 price target (up from $30.00) on shares of Cognex in a research note on Monday, July 14th. Truist Financial lowered their price target on Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC boosted their price target on Cognex from $36.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday. Robert W. Baird boosted their price target on Cognex from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Finally, The Goldman Sachs Group boosted their price target on Cognex from $29.00 to $32.00 and gave the company a "sell" rating in a research note on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $42.08.

About Cognex

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.