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

Cognex Co. (NASDAQ:CGNX) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders 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 yield of 0.33%. The ex-dividend date is Thursday, August 13th.

Cognex has increased its dividend payment 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 payout ratio of 37.3% 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 $0.22 annual dividend with an expected future payout ratio of 25.3%.

Shares of Cognex stock traded down $0.11 during trading on Friday, reaching $65.87. The company’s stock had a trading volume of 12,123 shares, compared to its average volume of 711,773. The business’s 50-day moving average price is $60.38 and its 200-day moving average price is $53.62. The firm has a market cap of $11.26 billion, a PE ratio of 80.94 and a beta of 1.79. Cognex has a 52 week low of $35.20 and a 52 week high of $66.62. The company has a quick ratio of 3.59, a current ratio of 3.95 and a debt-to-equity ratio of 0.01.

Cognex (NASDAQ:CGNX) last announced 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). The business had revenue of $169.10 million during 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%. The company’s revenue was down 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. Equities analysts predict that Cognex will post 0.58 earnings per share for the current year.

CGNX has been the subject of a number of recent research reports. Robert W. Baird cut shares of Cognex from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $44.00 to $45.00 in a research report on Tuesday, June 2nd. BidaskClub raised shares of Cognex from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. UBS Group boosted their price target on Cognex from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. ValuEngine raised Cognex from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Raymond James boosted their price target 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 given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently 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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