Cantor Fitzgerald Forecasts Cognex FY2024 Earnings

Cognex Co. (NASDAQ:CGNX) – Stock analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for Cognex in a research note issued to investors on Thursday, December 19th. Cantor Fitzgerald analyst T. Jensen expects that the scientific and technical instruments company will earn $0.38 per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $49.00 target price on the stock. The consensus estimate for Cognex’s current full-year earnings is $0.39 per share.

Several other research firms have also weighed in on CGNX. Needham & Company LLC cut their target price on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a report on Friday, November 1st. Stephens raised shares of Cognex from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $45.00 to $55.00 in a report on Wednesday, October 16th. Finally, Truist Financial lowered their target price on shares of Cognex from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cognex presently has an average rating of “Hold” and a consensus target price of $47.92.

Cognex Trading Down 0.8 %

Shares of NASDAQ:CGNX opened at $35.77 on Monday. Cognex has a 12-month low of $34.79 and a 12-month high of $53.13. The business has a 50 day moving average of $39.51 and a two-hundred day moving average of $41.71. The company has a market capitalization of $6.14 billion, a PE ratio of 68.79 and a beta of 1.39.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Riverview Trust Co acquired a new stake in Cognex during the third quarter worth about $25,000. Advisors Asset Management Inc. increased its holdings in shares of Cognex by 123.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 394 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Cognex during the 3rd quarter valued at approximately $36,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cognex during the 3rd quarter valued at approximately $40,000. Finally, Point72 Hong Kong Ltd acquired a new position in Cognex in the second quarter valued at approximately $55,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Insider Transactions at Cognex

In other Cognex news, Director Anthony Sun sold 26,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $40.03, for a total value of $1,040,780.00. Following the completion of the sale, the director now owns 26,608 shares in the company, valued at approximately $1,065,118.24. This represents a 49.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Joerg Kuechen sold 2,934 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total value of $110,758.50. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Cognex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, November 14th. This is an increase from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio (DPR) is 61.54%.

Cognex Company Profile

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.