Machine vision technology company Cognex (NASDAQ:CGNX) will be announcing earnings results this Wednesday after market hours. Here’s what investors should know.
Cognex missed analysts’ revenue expectations last quarter, reporting revenues of $291.3 million, up 16.9% year on year. It was a very strong quarter for the company, with revenue guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ full-year EPS guidance estimates.
Is Cognex a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cognex’s revenue to grow 13.1% year on year, slowing from the 18% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Cognex rarely misses Wall Street’s revenue estimates.
Looking at Cognex’s peers in the specialized technology segment, some have already reported their Q3 results, giving us a hint as to what we can expect. OSI Systems delivered year-on-year revenue growth of 4.9%, beating analysts’ expectations by 2.6%, and Mirion reported revenues up 24.5%, topping estimates by 1.1%. OSI Systems traded down 4.2% following the results while Mirion was up 8.7%.
Read our full analysis of OSI Systems’s results here and Mirion’s results here.
Investors in the specialized technology segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. Cognex is down 10.1% during the same time and is heading into earnings with an average analyst price target of $79.37 (compared to the current share price of $57.86).
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