We recently published 10 Stocks Crushing With Whopping Double-Digit Gains. Cognex Corporation is one of the best-performing stocks on Thursday.
Cognex Corp. rebounded by 20.76 percent on Thursday to finish at $40.77 apiece after reporting impressive earnings in the past quarter and raising its growth outlook for the third quarter of the year.
In its financial statement, Cognex Corporation said net income in the second quarter increased by 12 percent to $40.5 million from $36.2 million in the same period last year, while revenues grew by 4 percent to $249 million from $239 million year-on-year.
Copyright: franckito / 123RF Stock Photo
Net profit in the first half rose by 33 percent to $64 million from $48 million, while revenues inched up by 3 percent to $465 million from $450 million.
For the current quarter, Cognex Corporation said it targets to grow its revenues by 9 percent to a range of $245 million to $265 million, versus the $235 million actual revenue in the same period last year. Adjusted EPS was also pegged at $0.24 to $0.29, or 35 percent higher year-on-year.
Meanwhile, Cognex Corporation is also set to distribute a quarterly cash dividend worth $0.08 to shareholders as of August 14 record. The dividends will be payable on August 28, 2025.
