Cognex Corporation (NASDAQ:CGNX) is reporting third quarter financial results on Wednesday 28th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, CGNX is expected to report 3Q20 income of $ 0.31 per share from revenue of $ 213.51 million.
For the full year, analysts anticipate top line of $ 732.93 million, while looking forward to income of $ 0.81 per share bottom line.
The Company Outlook
Revenue for 3Q20 are expected in a range of $ 200.00 million ~ $ 220.00 million
Click Here For More Historical Outlooks Of Cognex Corporation
Previous Quarter Performance
Cognex Corporation reported income for the second quarter of $ 0.18 per share, from the revenue of $ 169.10 million. The quarterly earnings decreased 35.71 percent while revenues down 15.05 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.11 per share from $ 148.98 million in revenue. The bottom line results beat street analysts by $ 0.07 or 63.64 percent, at the same time, top line results outshined analysts by $ 20.12 million or 13.51 percent.
Stock Performance
Shares of Cognex Corporation traded low $ -0.73 or -1.08 percent on Tuesday, reaching $ 66.70 with volume of 514.50 thousand shares. Cognex Corporation has traded high as $ 67.83 and has cracked $ 66.50 on the downward trend
According to the previous trading day, closing price of $ 66.70, representing a 91.56 % increase from the 52 week low of $ 35.20 and a 6.03 % decrease over the 52 week high of $ 71.76.
The company has a market capital of $ 11.54 billion and is part of the Technology sector and Scientific & Technical Instruments industry.
Recent Analyst recommendations
- On 16th October 2020, initiated by Stephens at Overweight rating, with $ 85.00 target price.
- On 4th September 2020, downgraded by Daiwa Capital Markets to Neutral from Outperform rating.
Recent Stock Dividend Announcement
On July 29, 2020, the board of directors authorized quarterly dividend of $ 0.055 per share to holders of record as of the close of business on August 14, 2020, with payment date of August 28, 2020 and ex-dividend date on August 13, 2020.
Conference Call
Cognex Corporation will be hosting a conference call at 5:00 PM eastern time on 28th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.cognex.com
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. The company offers VisionPro software, a suite of patented vision tools for advanced programming; Cognex Designer that allows customers to build vision applications with a graphical flowchart-based programming environment; and Cognex ViDi, a deep learning-based image analysis software.
