Goldman Sachs Group Inc. downgraded shares of Canon (NYSE:CAJ) from a neutral rating to a sell rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
Goldman Sachs Group Inc. has also updated their ratings on a number of other consumer goods stocks in the last week. The firm downgraded shares of Melco Crown Entertainment Limited from a conviction-buy rating to a buy rating. Also, Goldman Sachs Group Inc. downgraded shares of Flextronics International Ltd. from a neutral rating to a sell rating. Their analysts now have a $7.00 price target on that stock, down previously from $8.00. Finally, Goldman Sachs Group Inc. downgraded shares of Imax Corporation from a buy rating to a neutral rating. Their analysts now have a $30.00 price target on that stock, up previously from $29.96.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. downgraded shares of Canon from an overweight rating to an underweight rating in a research note to investors on Tuesday. Separately, analysts at BNP Paribas downgraded shares of Canon to a hold rating in a research note to investors on Wednesday, November 27th. Finally, analysts at Zacks upgraded shares of Canon from an underperform rating to a neutral rating in a research note to investors on Monday, October 14th. They now have a $32.70 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Canon has a consensus rating of Hold and a consensus target price of $32.70.
Canon (NYSE:CAJ) opened at 31.63 on Thursday. Canon has a 1-year low of $29.82 and a 1-year high of $40.94. The stock’s 50-day moving average is $32.15 and its 200-day moving average is $32.53. The company has a market cap of $35.963 billion and a P/E ratio of 12.61.
Canon (NYSE:CAJ) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.65 by $0.13. Analysts expect that Canon will post $2.27 EPS for the current fiscal year.
Canon Inc (NYSE:CAJ), is a manufacturer of network digital multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and steppers.
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