Cognex Co. (NASDAQ:CGNX) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Stockholders of record on Friday, August 14th will be given 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 dividend yield of 0.33%. The ex-dividend date is Thursday, August 13th.
Cognex has raised 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% meaning its dividend is sufficiently covered by earnings. Equities 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%.
NASDAQ CGNX traded up $0.49 on Friday, reaching $66.47. The company’s stock had a trading volume of 23,157 shares, compared to its average volume of 711,773. Cognex has a 52 week low of $35.20 and a 52 week high of $66.62. 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 firm has a market cap of $11.26 billion, a PE ratio of 80.94 and a beta of 1.79. The business has a 50-day moving average price of $60.38 and a 200 day moving average price of $53.62.
Cognex (NASDAQ:CGNX) last issued its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $169.10 million during the quarter, compared to analyst estimates of $149.90 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was down 15.0% on a year-over-year basis. Analysts anticipate that Cognex will post 0.58 earnings per share for the current fiscal year.
CGNX has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on Cognex from $39.00 to $55.00 and gave the stock an “underweight” rating in a research note on Friday. ValuEngine raised shares of Cognex from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. restated a “sell” rating on shares of Cognex in a research report on Tuesday, June 9th. HSBC initiated coverage on Cognex in a research report on Monday, May 25th. They issued a “hold” rating and a $55.00 price objective on the stock. Finally, Raymond James lifted their target price on Cognex from $48.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target 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 Article: Monthly Dividend Stocks Can Provide Solid Income
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.