Cognex Co. (NASDAQ:CGNX) – Stock analysts at Northcoast Research raised their Q1 2019 earnings per share (EPS) estimates for Cognex in a research note issued to investors on Tuesday, February 19th. Northcoast Research analyst T. Hayes now anticipates that the scientific and technical instruments company will post earnings of $0.14 per share for the quarter, up from their prior estimate of $0.13. Northcoast Research also issued estimates for Cognex’s Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.29 EPS, FY2019 earnings at $1.22 EPS, Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $0.52 EPS, Q4 2020 earnings at $0.36 EPS and FY2020 earnings at $1.51 EPS.
Several other equities analysts have also recently issued reports on the stock. BidaskClub raised shares of Cognex from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Zacks Investment Research downgraded shares of Cognex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price (up from $47.00) on shares of Cognex in a research report on Tuesday, February 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.28.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Thursday, February 14th. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.04. The company had revenue of $193.29 million for the quarter, compared to analysts’ expectations of $184.82 million. Cognex had a net margin of 27.19% and a return on equity of 19.75%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) EPS.
Institutional investors have recently added to or reduced their stakes in the company. Ruggie Capital Group purchased a new position in shares of Cognex in the fourth quarter worth approximately $27,000. Executive Wealth Management LLC purchased a new position in shares of Cognex in the fourth quarter worth approximately $27,000. Berman Capital Advisors LLC purchased a new position in shares of Cognex in the fourth quarter worth approximately $29,000. CWM LLC grew its position in Cognex by 1,952.6% during the fourth quarter. CWM LLC now owns 780 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 742 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in Cognex by 223.0% during the fourth quarter. Advisory Services Network LLC now owns 772 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 533 shares in the last quarter. 89.21% of the stock is currently owned by institutional investors and hedge funds.
Cognex declared that its Board of Directors has approved a share buyback plan on Monday, October 29th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Thursday, February 28th. Cognex’s dividend payout ratio (DPR) is currently 16.13%.
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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