Cognex Co. (NASDAQ:CGNX) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Friday, August 14th will be paid a dividend of 0.055 per share by the scientific and technical instruments company on Friday, August 28th. This represents a $0.22 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Thursday, August 13th.
Cognex has increased its dividend by an average of 39.0% annually over the last three years and has raised its dividend every year for the last 10 years. Cognex has a dividend payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cognex to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 25.3%.
Shares of NASDAQ CGNX traded down $0.11 during midday trading on Friday, hitting $65.87. The company’s stock had a trading volume of 12,123 shares, compared to its average volume of 711,773. The company has a current ratio of 3.95, a quick ratio of 3.59 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $60.38 and its two-hundred day moving average is $53.62. Cognex has a 12-month low of $35.20 and a 12-month high of $66.62. The firm has a market cap of $11.26 billion, a P/E ratio of 80.94 and a beta of 1.79.
Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.11). Cognex had a return on equity of 10.81% and a net margin of 20.50%. The business had revenue of $169.10 million during the quarter, compared to analysts’ expectations of $149.90 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was down 15.0% compared to the same quarter last year. On average, analysts predict that Cognex will post 0.58 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on CGNX shares. HSBC started coverage on Cognex in a report on Monday, May 25th. They issued a “hold” rating and a $55.00 price target on the stock. Robert W. Baird downgraded Cognex from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $44.00 to $45.00 in a report on Tuesday, June 2nd. reiterated a “sell” rating on shares of Cognex in a report on Tuesday, June 9th. ValuEngine upgraded Cognex from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Morgan Stanley raised their price objective on Cognex from $39.00 to $55.00 and gave the stock an “underweight” rating in a report on Friday. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Cognex currently has an average rating of “Hold” and a consensus target price of $53.40.
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 Story: What is a Lock-Up Period?
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.