Zacks Investment Research cut shares of NIKON CORP/ADR (OTCMKTS:NINOY) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $14.00 price objective on the stock.
According to Zacks, “Nikon’s first-quarter fiscal 2020 results were disappointing. Both earnings and revenues declined on a year-over-year basis due to weakness in Imaging Products and Precision Equipment businesses. However, semiconductor lithography business grew due to sales of new systems, including the ArF immersion systems. Although the stock has underperformed the industry on a year-to-date basis, we expect it to bounce back during the rest of fiscal 2020, as semiconductor capital spending recovers. Moreover, Nikon benefits from solid high-end camera sales, driven by the launch of ML products. Further, solid healthcare growth is expected to be driven by expanding footprints at bioscience and the ophthalmic diagnosis spaces. Nikon reiterated its fiscal 2020 guidance based on these growth factors.”
Separately, ValuEngine upgraded NIKON CORP/ADR from a strong sell rating to a sell rating in a research report on Thursday, May 9th.
NIKON CORP/ADR (OTCMKTS:NINOY) last released its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.25 billion. NIKON CORP/ADR had a return on equity of 9.66% and a net margin of 8.46%. On average, equities research analysts anticipate that NIKON CORP/ADR will post 1 EPS for the current fiscal year.
About NIKON CORP/ADR
Nikon Corporation manufactures and sells optical instruments in Japan and internationally. It operates through three segments: Imaging Products Business, Precision Equipment Business, and Healthcare Business. The Imaging Products Business segment develops, manufacture, sells and service of digital camerasinterchangeable lens type, interchangeable lenses and compact digital cameras, and other products.
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