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Zacks: Brokerages Anticipate Cognex Co. (NASDAQ:CGNX) Will Post Quarterly Sales of $213.73 Million

Last updated on Friday, September 18, 2020 | 2020 MarketBeat

Wall Street brokerages predict that Cognex Co. (NASDAQ:CGNX) will announce sales of $213.73 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Cognex's earnings. The lowest sales estimate is $209.24 million and the highest is $219.66 million. Cognex reported sales of $183.33 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.6%. The company is scheduled to announce its next quarterly earnings report after the market closes on Monday, October 26th.

According to Zacks, analysts expect that Cognex will report full-year sales of $725.81 million for the current fiscal year, with estimates ranging from $716.92 million to $735.47 million. For the next financial year, analysts expect that the company will post sales of $810.12 million, with estimates ranging from $769.81 million to $832.00 million. Zacks' sales averages are an average based on a survey of sell-side research firms that cover Cognex.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.11). Cognex had a return on equity of 10.67% and a net margin of 20.50%. The firm had revenue of $169.10 million for the quarter, compared to analyst estimates of $149.90 million. During the same period last year, the company earned $0.27 EPS. The company's revenue was down 15.0% compared to the same quarter last year.

A number of equities analysts have weighed in on the company. Robert W. Baird downgraded Cognex from a "neutral" rating to an "underperform" rating and upped their price target for the stock from $44.00 to $45.00 in a research report on Tuesday, June 2nd. Daiwa Capital Markets cut Cognex from an "outperform" rating to a "neutral" rating in a research note on Friday, September 4th. BidaskClub upgraded Cognex from a "hold" rating to a "buy" rating in a research note on Thursday. Morgan Stanley upped their price objective on Cognex from $39.00 to $55.00 and gave the stock an "underweight" rating in a research note on Friday, July 31st. Finally, HSBC initiated coverage on Cognex in a research note on Monday, May 25th. They set a "hold" rating and a $55.00 price objective on the stock. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. Cognex presently has a consensus rating of "Hold" and an average target price of $52.82.

NASDAQ:CGNX opened at $62.99 on Friday. Cognex has a twelve month low of $35.20 and a twelve month high of $71.76. The business has a 50 day moving average price of $66.10 and a two-hundred day moving average price of $56.62. The company has a market cap of $10.90 billion, a P/E ratio of 77.77 and a beta of 1.67.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Thursday, August 13th. Cognex's dividend payout ratio (DPR) is presently 18.97%.

In other Cognex news, SVP Sheila Marie Dipalma sold 43,500 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $66.56, for a total transaction of $2,895,360.00. Following the transaction, the senior vice president now owns 8,500 shares in the company, valued at approximately $565,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry A. Schneider sold 5,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $66.73, for a total value of $333,650.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $333,650. The disclosure for this sale can be found here. In the last 90 days, insiders sold 479,522 shares of company stock worth $32,446,379. 5.20% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Orion Portfolio Solutions LLC grew its holdings in shares of Cognex by 42.8% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 604 shares of the scientific and technical instruments company's stock worth $36,000 after purchasing an additional 181 shares in the last quarter. Fieldpoint Private Securities LLC boosted its stake in Cognex by 3.9% in the first quarter. Fieldpoint Private Securities LLC now owns 5,633 shares of the scientific and technical instruments company's stock valued at $237,000 after buying an additional 211 shares in the last quarter. Cigna Investments Inc. New boosted its stake in Cognex by 6.7% in the first quarter. Cigna Investments Inc. New now owns 4,769 shares of the scientific and technical instruments company's stock valued at $201,000 after buying an additional 300 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Cognex in the second quarter valued at about $26,000. Finally, Banque Cantonale Vaudoise boosted its stake in Cognex by 5.3% in the first quarter. Banque Cantonale Vaudoise now owns 9,014 shares of the scientific and technical instruments company's stock valued at $380,000 after buying an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 93.62% of the company's stock.

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. It provides machine vision products, which are used to automate the manufacture 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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Earnings History and Estimates for Cognex (NASDAQ:CGNX)

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