Brokerages forecast that Cognex Co. (NASDAQ:CGNX) will announce $195.84 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Cognex’s earnings. The lowest sales estimate is $194.62 million and the highest is $198.60 million. Cognex posted sales of $211.26 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.3%. The company is scheduled to announce its next quarterly earnings report after the market closes on Monday, July 29th.
According to Zacks, analysts expect that Cognex will report full-year sales of $782.23 million for the current financial year, with estimates ranging from $770.22 million to $795.54 million. For the next fiscal year, analysts expect that the company will post sales of $888.07 million, with estimates ranging from $843.30 million to $926.72 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Cognex.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, April 29th. The scientific and technical instruments company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Cognex had a return on equity of 18.90% and a net margin of 26.55%. The firm had revenue of $173.50 million for the quarter, compared to analysts’ expectations of $172.16 million. During the same period last year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis.
A number of research firms have issued reports on CGNX. Morgan Stanley raised their target price on Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a research note on Wednesday, July 10th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Sanford C. Bernstein cut Encana from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Goldman Sachs Group cut Micro Focus International from a “neutral” rating to a “sell” rating in a research note on Tuesday. Finally, Needham & Company LLC raised their target price on Ceridian HCM to $60.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Cognex has an average rating of “Hold” and a consensus target price of $50.36.
CGNX traded down $0.25 during trading hours on Friday, hitting $42.31. 1,384,889 shares of the stock were exchanged, compared to its average volume of 1,166,478. The stock has a 50-day simple moving average of $44.30. Cognex has a 12 month low of $34.88 and a 12 month high of $59.18. The firm has a market capitalization of $7.26 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 2.85 and a beta of 2.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.46 and a current ratio of 8.31.
In other news, insider John J. Curran sold 50,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.01, for a total transaction of $2,450,500.00. Following the transaction, the insider now directly owns 12,500 shares of the company’s stock, valued at $612,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. NEXT Financial Group Inc increased its holdings in shares of Cognex by 1,081.8% during the second quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 476 shares during the period. Bremer Bank National Association acquired a new position in shares of Cognex during the first quarter valued at $27,000. Osborn Williams & Donohoe LLC acquired a new position in shares of Cognex during the first quarter valued at $33,000. Liberty Wealth Management LLC acquired a new position in shares of Cognex during the fourth quarter valued at $25,000. Finally, Executive Wealth Management LLC acquired a new position in shares of Cognex during the fourth quarter valued at $27,000. 94.49% of the stock is currently owned by institutional investors.
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.
Featured Article: Calculating net profit and net profit margin ratio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.