Nikon Corp (NINOY) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Nikon Corp (NASDAQ:NINOY) from a hold rating to a sell rating in a research note published on Thursday morning.

According to Zacks, “Nikon’s earnings for second-quarter fiscal 2018 declined significantly year over year, dragged by top-line weakness. Prolonged softness the Semiconductor Lithography business as well as poor performance from Imaging Products Business and Precision Equipment Business remain headwinds. Moreover, high R&D expenditure, restructuring costs and investments related to the medical business, are escalating the company’s operational costs, thus putting pressure on margins. Over the past year, Nikon’s shares have underperformed the industry’s average. Also, going forward slow imaging sales and foreign currency headwinds are likely to thwart growth. However, Nikon is undertaking a number of initiatives on stabilizing the key financials of its core business areas — including Precision Equipment and Imaging Products — to drive growth.”

Shares of Nikon Corp (NASDAQ NINOY) traded up $0.06 during trading hours on Thursday, reaching $20.57. The company’s stock had a trading volume of 4,598 shares, compared to its average volume of 4,986. Nikon Corp has a fifty-two week low of $13.94 and a fifty-two week high of $20.53.

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Nikon Corp Company Profile

NIKON CORPORATION is mainly engaged in the manufacture and sale of image and video equipment. The Company operates in three business segments. The Precision Equipment segment offers semiconductor exposure apparatus and flat panel display (FPD) exposure apparatus products and services. The Video segment provides video related and its peripheral area products and services, such as interchangeable lens type digital cameras, compact digital cameras and interchangeable lenses.

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