Cognex Corporation (NASDAQ:CGNX) posted its earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.09, Briefing.com reports. Cognex Corporation had a return on equity of 23.31% and a net margin of 34.77%. The firm had revenue of $259.74 million during the quarter, compared to analyst estimates of $255.95 million. During the same period in the previous year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 75.6% on a year-over-year basis.
Shares of Cognex Corporation (CGNX) opened at $137.73 on Wednesday. Cognex Corporation has a 1 year low of $57.12 and a 1 year high of $140.94. The firm has a market capitalization of $11,905.66, a price-to-earnings ratio of 50.74 and a beta of 1.48.
Cognex Corporation’s stock is scheduled to split on Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly issued shares will be distributed to shareholders after the closing bell on Friday, December 1st.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.26%. This is a boost from Cognex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 16th. Cognex Corporation’s dividend payout ratio is 12.55%.
A number of brokerages have recently commented on CGNX. Cowen and Company reiterated an “outperform” rating and set a $135.00 price target (up from $100.00) on shares of Cognex Corporation in a report on Tuesday, August 8th. J P Morgan Chase & Co lowered Cognex Corporation from a “neutral” rating to an “underweight” rating and set a $125.00 price target for the company. in a report on Wednesday, November 8th. BidaskClub upgraded Cognex Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Robert W. Baird boosted their price objective on Cognex Corporation from $100.00 to $124.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research upgraded Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 price objective on the stock in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $106.88.
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In other Cognex Corporation news, insider John J. Curran sold 12,500 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $132.60, for a total value of $1,657,500.00. Following the transaction, the insider now owns 6,250 shares of the company’s stock, valued at $828,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Benjamin Miller sold 3,750 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $134.48, for a total value of $504,300.00. Following the transaction, the director now directly owns 3,750 shares in the company, valued at approximately $504,300. The disclosure for this sale can be found here. In the last three months, insiders sold 158,991 shares of company stock worth $19,974,890. Insiders own 5.60% of the company’s stock.
About Cognex Corporation
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture 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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