Cognex Co. (NASDAQ:CGNX) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Stockholders 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 dividend yield of 0.33%. The ex-dividend date is Thursday, August 13th.
Cognex has increased its dividend by an average of 39.0% per year over the last three years and has raised its dividend every year for the last 10 years. Cognex has a payout ratio of 37.3% indicating that 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 $0.22 annual dividend with an expected future payout ratio of 25.3%.
Shares of Cognex stock traded up $0.49 during trading 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. The business has a 50 day moving average price of $60.38 and a 200-day moving average price of $53.62. Cognex has a 12-month low of $35.20 and a 12-month high of $66.62. The company has a market capitalization of $11.26 billion, a P/E ratio of 80.94 and a beta of 1.79. The company has a quick ratio of 3.59, a current ratio of 3.95 and a debt-to-equity ratio of 0.01.
CGNX has been the subject of several recent analyst reports. HSBC assumed coverage on shares of Cognex in a research note on Monday, May 25th. They issued a “hold” rating and a $55.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of Cognex from $36.00 to $40.00 and gave the company an “underweight” rating in a research report on Friday, April 17th. BidaskClub raised Cognex from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Robert W. Baird downgraded Cognex from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $44.00 to $45.00 in a research note on Tuesday, June 2nd. Finally, Zacks Investment Research cut Cognex from a “hold” rating to a “sell” rating in a report on Wednesday, July 1st. Five analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Cognex presently has a consensus rating of “Hold” and an average target price of $53.40.
Cognex Company Profile
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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