Cognex (NASDAQ:CGNX) Releases Earnings Results, Beats Expectations By $0.05 EPS
Cognex (NASDAQ:CGNX) issued its quarterly earnings data on Monday. The scientific and technical instruments company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05, Morningstar.com reports. Cognex had a net margin of 26.55% and a return on equity of 18.90%. The business had revenue of $199.00 million for the quarter, compared to analysts’ expectations of $194.65 million. During the same period in the previous year, the business earned $0.31 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. Cognex updated its Q3 2019 guidance to EPS.
NASDAQ:CGNX traded up $2.27 during mid-day trading on Tuesday, reaching $44.56. 37,839 shares of the stock were exchanged, compared to its average volume of 1,389,462. The business’s fifty day moving average price is $44.38. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.91 and a beta of 2.06. Cognex has a 1-year low of $34.88 and a 1-year high of $59.18. The company has a quick ratio of 7.46, a current ratio of 8.31 and a debt-to-equity ratio of 0.01.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.45%. Cognex’s payout ratio is currently 16.13%.
In related news, insider John J. Curran sold 50,000 shares of Cognex stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.60% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Liberty Wealth Management LLC purchased a new position in Cognex in the 4th quarter worth about $25,000. NEXT Financial Group Inc increased its stake in Cognex by 1,081.8% in the 2nd quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 476 shares in the last quarter. Executive Wealth Management LLC purchased a new position in Cognex in the 4th quarter worth about $27,000. Bremer Bank National Association purchased a new position in Cognex in the 1st quarter worth about $27,000. Finally, Advisory Services Network LLC increased its stake in Cognex by 223.0% in the 4th quarter. Advisory Services Network LLC now owns 772 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 533 shares in the last quarter. 94.53% of the stock is currently owned by hedge funds and other institutional investors.
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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