Cognex (CGNX) Set to Announce Earnings on Wednesday

Cognex (NASDAQ:CGNX) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.17 per share for the quarter. Cognex has set its Q3 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Cognex (NASDAQ:CGNX) last issued its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $239.00 million for the quarter, compared to analysts’ expectations of $240.33 million. Cognex had a return on equity of 4.97% and a net margin of 9.29%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 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 Price Performance

Cognex stock opened at $39.23 on Wednesday. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 67.64 and a beta of 1.41. Cognex has a 12 month low of $34.28 and a 12 month high of $53.13. The stock’s 50-day moving average is $39.34 and its 200-day moving average is $43.02.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.30 annualized dividend and a yield of 0.76%. Cognex’s payout ratio is 51.72%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CGNX shares. Vertical Research began coverage on shares of Cognex in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 price objective for the company. StockNews.com raised Cognex from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Truist Financial decreased their target price on Cognex from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group dropped their target price on Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Finally, Needham & Company LLC increased their price objective on shares of Cognex from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.00.

Insider Activity

In other news, Director Dianne M. Parrotte acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $38.62 per share, with a total value of $77,240.00. Following the completion of the acquisition, the director now directly owns 11,340 shares in the company, valued at $437,950.80. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Dianne M. Parrotte purchased 2,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost of $38.62 per share, for a total transaction of $77,240.00. Following the acquisition, the director now owns 11,340 shares of the company’s stock, valued at $437,950.80. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Dennis Fehr purchased 6,570 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the completion of the transaction, the chief financial officer now owns 6,570 shares in the company, valued at approximately $249,922.80. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

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.