Cognex Co. (CGNX) To Go Ex-Dividend on August 15th

Cognex Co. (NASDAQ:CGNX) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.075 per share by the scientific and technical instruments company on Thursday, August 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, August 15th.

Cognex has increased its dividend by an average of 8.2% per year over the last three years. Cognex has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cognex to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 34.5%.

Cognex Trading Down 1.9 %

CGNX traded down $0.75 during trading on Friday, reaching $38.33. The stock had a trading volume of 597,272 shares, compared to its average volume of 1,340,575. The stock’s 50 day moving average is $47.31 and its two-hundred day moving average is $42.95. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 65.53 and a beta of 1.42. Cognex has a one year low of $34.28 and a one year high of $53.13.

Cognex (NASDAQ:CGNX) last announced its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $239.00 million for the quarter, compared to analysts’ expectations of $240.33 million. Cognex had a return on equity of 4.98% and a net margin of 9.29%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. On average, equities research analysts predict that Cognex will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

CGNX has been the subject of a number of recent analyst reports. StockNews.com cut Cognex from a “hold” rating to a “sell” rating in a report on Thursday. Needham & Company LLC boosted their price target on Cognex from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial reduced their target price on Cognex from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday. Sanford C. Bernstein boosted their price target on Cognex from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group upped their target price on Cognex from $36.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, May 6th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.14.

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.