BidaskClub cut shares of Canon, Inc. (NYSE:CAJ) from a hold rating to a sell rating in a research note published on Tuesday morning.
Several other research analysts also recently issued reports on CAJ. TheStreet raised Canon from a c+ rating to a b rating in a report on Thursday, March 16th. Zacks Investment Research downgraded Canon from a strong-buy rating to a hold rating in a report on Wednesday, April 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $36.00.
Canon (NYSE CAJ) traded down 0.09% during mid-day trading on Tuesday, hitting $33.65. The stock had a trading volume of 116,969 shares. The firm has a market cap of $36.75 billion, a P/E ratio of 23.16 and a beta of 0.40. The stock has a 50 day moving average of $34.67 and a 200-day moving average of $31.35. Canon has a 1-year low of $27.18 and a 1-year high of $35.91.
Canon (NYSE:CAJ) last posted its quarterly earnings data on Wednesday, April 26th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.22. Canon had a return on equity of 6.11% and a net margin of 4.95%. The firm had revenue of $8.69 billion for the quarter, compared to the consensus estimate of $8.04 billion. Analysts predict that Canon will post $1.48 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Investments LP increased its position in Canon by 306.3% in the fourth quarter. Two Sigma Investments LP now owns 45,258 shares of the technology company’s stock valued at $1,274,000 after buying an additional 34,120 shares in the last quarter. Guggenheim Capital LLC increased its position in Canon by 146.6% in the fourth quarter. Guggenheim Capital LLC now owns 135,407 shares of the technology company’s stock valued at $3,810,000 after buying an additional 80,503 shares in the last quarter. Manning & Napier Advisors LLC increased its position in Canon by 7.1% in the first quarter. Manning & Napier Advisors LLC now owns 152,984 shares of the technology company’s stock valued at $4,783,000 after buying an additional 10,126 shares in the last quarter. Gradient Investments LLC increased its position in Canon by 15,963.0% in the first quarter. Gradient Investments LLC now owns 8,674 shares of the technology company’s stock valued at $271,000 after buying an additional 8,620 shares in the last quarter. Finally, Regentatlantic Capital LLC increased its position in Canon by 1.0% in the first quarter. Regentatlantic Capital LLC now owns 36,145 shares of the technology company’s stock valued at $1,130,000 after buying an additional 365 shares in the last quarter. 1.52% of the stock is currently owned by hedge funds and other institutional investors.
Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.
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