According to Zacks, “Canon, Inc. is an industry leader in professional and consumer imaging equipment and information systems. Canon’s extensive product line enables businesses and consumers worldwide to capture, store and distribute visual information. Canon products include full-color as well as black and white copiers; color laser printers; facsimile machines; micrographics and optical disk filing systems; word processors, typewriters and calculators; camcorders, and lenses; semiconductor, broadcast and optical equipment; and other specialized industrial products. “
Separately, Goldman Sachs Group downgraded Canon from a “neutral” rating to a “sell” rating in a research report on Friday, September 20th.
NYSE CAJ traded up $0.03 during trading on Tuesday, hitting $27.13. The stock had a trading volume of 314,200 shares, compared to its average volume of 282,131. The company has a market capitalization of $28.94 billion, a PE ratio of 12.74, a PEG ratio of 4.27 and a beta of 0.55. The company has a quick ratio of 1.26, a current ratio of 1.90 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $26.66 and a 200 day moving average price of $27.80. Canon has a twelve month low of $25.49 and a twelve month high of $31.06.
Canon (NYSE:CAJ) last released its earnings results on Wednesday, July 24th. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.10). The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.44 billion. Canon had a net margin of 4.88% and a return on equity of 6.07%. On average, sell-side analysts anticipate that Canon will post 1.38 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAJ. CWM LLC grew its position in shares of Canon by 38.5% during the third quarter. CWM LLC now owns 238,404 shares of the technology company’s stock worth $6,365,000 after buying an additional 66,282 shares in the last quarter. Regentatlantic Capital LLC grew its position in shares of Canon by 18.3% during the third quarter. Regentatlantic Capital LLC now owns 184,272 shares of the technology company’s stock worth $4,920,000 after buying an additional 28,454 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of Canon during the third quarter worth about $262,000. Cardinal Capital Management grew its position in shares of Canon by 1.8% during the third quarter. Cardinal Capital Management now owns 27,443 shares of the technology company’s stock worth $732,000 after buying an additional 484 shares in the last quarter. Finally, Bailard Inc. grew its position in shares of Canon by 13.2% during the third quarter. Bailard Inc. now owns 10,030 shares of the technology company’s stock worth $268,000 after buying an additional 1,166 shares in the last quarter. 1.22% of the stock is owned by institutional investors.
Canon Company Profile
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 through four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.
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