Canon Inc (NYSE:CAJ) – Investment analysts at Jefferies Financial Group lowered their FY2018 earnings per share estimates for shares of Canon in a research report issued to clients and investors on Thursday, October 25th, according to Zacks Investment Research. Jefferies Financial Group analyst M. Nakanomyo now expects that the technology company will post earnings of $2.10 per share for the year, down from their prior forecast of $2.19. Jefferies Financial Group also issued estimates for Canon’s Q4 2018 earnings at $0.58 EPS, FY2019 earnings at $2.16 EPS and FY2020 earnings at $2.40 EPS.
Canon (NYSE:CAJ) last issued its quarterly earnings results on Thursday, October 25th. The technology company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The business had revenue of $8.13 billion during the quarter, compared to analyst estimates of $9.01 billion. Canon had a return on equity of 8.36% and a net margin of 5.88%.
A number of other research firms also recently commented on CAJ. Zacks Investment Research downgraded Canon from a “hold” rating to a “strong sell” rating in a report on Monday, July 30th. JPMorgan Chase & Co. downgraded Canon from a “neutral” rating to an “underweight” rating in a report on Thursday, September 13th.
Shares of Canon stock traded up $0.19 during trading hours on Monday, reaching $28.18. The stock had a trading volume of 282,291 shares, compared to its average volume of 643,345. The company has a market cap of $30.57 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.81. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.04 and a quick ratio of 1.40. Canon has a 1 year low of $27.73 and a 1 year high of $40.67.
Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in shares of Canon by 65.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,658,600 shares of the technology company’s stock valued at $54,220,000 after buying an additional 657,300 shares during the period. LSV Asset Management raised its holdings in shares of Canon by 5.2% during the 3rd quarter. LSV Asset Management now owns 999,900 shares of the technology company’s stock valued at $31,646,000 after buying an additional 49,200 shares during the period. First Trust Advisors LP raised its holdings in shares of Canon by 17.5% during the 3rd quarter. First Trust Advisors LP now owns 767,089 shares of the technology company’s stock valued at $24,278,000 after buying an additional 114,286 shares during the period. Millennium Management LLC raised its holdings in shares of Canon by 348.4% during the 1st quarter. Millennium Management LLC now owns 508,394 shares of the technology company’s stock valued at $18,531,000 after buying an additional 395,005 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Canon by 217.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 398,201 shares of the technology company’s stock valued at $13,017,000 after buying an additional 272,642 shares during the period. Institutional investors own 1.61% of the company’s stock.
Canon Inc manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, diagnostic equipment, and lithography equipment. The company operates in four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.
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