Cognex (NASDAQ:CGNX) Earns Daily News Sentiment Score of 0.14

Media coverage about Cognex (NASDAQ:CGNX) has trended somewhat positive on Thursday, Accern reports. Accern rates the sentiment of media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Cognex earned a coverage optimism score of 0.14 on Accern’s scale. Accern also assigned headlines about the scientific and technical instruments company an impact score of 46.9025989003031 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.

Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:

Several research firms recently commented on CGNX. Zacks Investment Research downgraded Cognex from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 2nd. BidaskClub downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. ValuEngine cut Cognex from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, Deutsche Bank set a $80.00 target price on Cognex and gave the company a “buy” rating in a report on Friday, January 19th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Cognex has a consensus rating of “Hold” and a consensus price target of $66.83.

Cognex stock traded down $0.21 during midday trading on Thursday, hitting $55.55. The stock had a trading volume of 173,377 shares, compared to its average volume of 2,009,002. The stock has a market cap of $9,705.98, a PE ratio of 56.90 and a beta of 1.54. Cognex has a fifty-two week low of $39.01 and a fifty-two week high of $72.99.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The business had revenue of $180.37 million during the quarter, compared to analysts’ expectations of $178.75 million. During the same period in the prior year, the business posted $0.20 EPS. The company’s revenue was up 39.5% compared to the same quarter last year. equities analysts forecast that Cognex will post 1.4 earnings per share for the current fiscal year.

Cognex declared that its board has initiated a share repurchase program on Thursday, February 15th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Thursday, March 1st. Cognex’s dividend payout ratio is currently 18.37%.

In related news, Director Anthony Sun sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $56.49, for a total transaction of $564,900.00. Following the transaction, the director now owns 294,262 shares in the company, valued at approximately $16,622,860.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.60% of the company’s stock.

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About Cognex

Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.

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