Cognex Corporation (CGNX) Releases Earnings Results, Beats Expectations By $0.05 EPS

Cognex Corporation (CGNX) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.17 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.12. The company posted revenue of $96.20 million in the period, compared to analysts expectations of $93.14 million. The company’s revenue was down -5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Many Wall Street Analysts have commented on Cognex Corporation. Company shares were Reiterated by Canaccord Genuity on Apr 1, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $42 .Cognex Corporation was Downgraded by Credit Agricole to ” Underperform” on Mar 24, 2016. Cognex Corporation was Downgraded by Raymond James to ” Mkt Perform” on Mar 11, 2016.

Cognex Corporation closed down -0.7 points or -1.86% at $36.9 with 8,90,092 shares getting traded on Wednesday. Post opening the session at $37.36, the shares hit an intraday low of $36.42 and an intraday high of $37.485 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 16, 2016, Bruce Robinson J (director) purchased 1,000 shares at $34.19 per share price. According to the SEC, on Jun 17, 2015, Jeffrey Benjamin Miller (director) sold 20,000 shares at $49.55 per share price. On Jun 17, 2015, Reuben Wasserman (director) sold 7,500 shares at $49.41 per share price, according to the Form-4 filing with the securities and exchange commission.

Cognex Corporation is a provider of machine vision products that captures and analyzes visual information in order to automate tasks primarily in manufacturing processes. The Company operates in the modular vision systems division (MVSD). The Company’s products include barcode readers machine vision sensors and machine vision systems that are used in factories warehouses and distribution centers around the world. MVSD develops manufactures and markets modular vision systems and identification (ID) products that are used to automate the manufacture and tracking of discrete items such as cellular phones aspirin bottles and automobile wheels during the manufacturing or distribution process. The Company’s registered marks include Cognex VisionPro In-Sight Checker and DataMan among others.

Cognex Corporation

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