Cognex Co. Announces Quarterly Dividend of $0.05 (NASDAQ:CGNX)

Cognex Co. (NASDAQ:CGNX) announced a quarterly dividend on Monday, July 29th, RTT News reports. Stockholders of record on Friday, August 16th will be given a dividend of 0.05 per share by the scientific and technical instruments company on Friday, August 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, August 15th.

Cognex has raised its dividend by an average of 28.3% annually over the last three years and has raised its dividend every year for the last 9 years. Cognex has a payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cognex to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 18.3%.

NASDAQ CGNX traded up $0.02 during trading hours on Wednesday, hitting $44.87. The company had a trading volume of 480,527 shares, compared to its average volume of 1,285,807. Cognex has a fifty-two week low of $34.88 and a fifty-two week high of $59.18. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 36.19, a P/E/G ratio of 3.41 and a beta of 2.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.92 and a quick ratio of 7.07. The firm’s 50 day moving average is $43.38 and its 200 day moving average is $47.79.

Cognex (NASDAQ:CGNX) last announced its earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. Cognex had a return on equity of 17.81% and a net margin of 26.03%. The company had revenue of $199.00 million during the quarter, compared to the consensus estimate of $194.65 million. During the same period last year, the firm earned $0.31 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. On average, equities analysts anticipate that Cognex will post 0.86 EPS for the current year.

In other Cognex news, Director Dianne M. Parrotte sold 900 shares of Cognex stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $40,500.00. Following the transaction, the director now owns 19,700 shares in the company, valued at $886,500. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.60% of the company’s stock.

Several equities analysts have recently commented on CGNX shares. Needham & Company LLC cut shares of Cognex from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine cut shares of Cognex from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Sanford C. Bernstein cut shares of Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 price target on the stock. in a research report on Tuesday, April 30th. They noted that the move was a valuation call. Goldman Sachs Group cut shares of Cognex from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $45.00 to $36.00 in a research report on Tuesday, July 16th. Finally, Zacks Investment Research raised shares of Cognex from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $50.60.

About Cognex

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.

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Dividend History for Cognex (NASDAQ:CGNX)

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