Cognex Co. (NASDAQ:CGNX) Declares Quarterly Dividend of $0.06

Cognex Co. (NASDAQ:CGNX) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors 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 annualized dividend and a dividend yield of 0.34%. 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 annually for the last 10 consecutive years. Cognex has a dividend payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. 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 CGNX traded down $0.32 on Friday, hitting $65.66. 7,192 shares of the stock traded hands, compared to its average volume of 711,773. The company has a market capitalization of $11.26 billion, a PE ratio of 80.94 and a beta of 1.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.59 and a current ratio of 3.95. The business has a 50 day simple moving average of $60.38 and a 200 day simple moving average of $53.62. Cognex has a one year low of $35.20 and a one year high of $66.62.

Cognex (NASDAQ:CGNX) last announced 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 Thomson Reuters’ consensus estimate of $0.10 by ($0.11). The firm had revenue of $169.10 million for the quarter, compared to the consensus estimate of $149.90 million. Cognex had a net margin of 20.50% and a return on equity of 10.81%. Cognex’s revenue was down 15.0% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. On average, equities analysts expect that Cognex will post 0.58 earnings per share for the current year.

A number of brokerages have weighed in on CGNX. Morgan Stanley boosted their target price on shares of Cognex from $39.00 to $55.00 and gave the company an “underweight” rating in a research note on Friday. Zacks Investment Research downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Wednesday, July 1st. Robert W. Baird cut shares of Cognex from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $44.00 to $45.00 in a research note on Tuesday, June 2nd. reissued a “sell” rating on shares of Cognex in a report on Tuesday, June 9th. Finally, Raymond James upped their target price on shares of Cognex from $48.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cognex has an average rating of “Hold” and a consensus price target of $53.40.

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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