Canon (OTCMKTS:CAJPY) Shares Gap Down – Here’s Why

Canon, Inc. (OTCMKTS:CAJPY) shares gapped down prior to trading on Tuesday. The stock had previously closed at $31.62, but opened at $30.35. Canon shares last traded at $29.7240, with a volume of 87,016 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Canon from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Canon Stock Up 0.9%

The business has a 50-day moving average price of $29.37 and a 200-day moving average price of $28.37. The company has a current ratio of 1.46, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The firm has a market cap of $25.71 billion, a P/E ratio of 11.52 and a beta of 0.54.

Canon (OTCMKTS:CAJPY) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.56 EPS for the quarter. The business had revenue of $7.28 billion for the quarter. Canon had a return on equity of 9.41% and a net margin of 7.36%. On average, equities analysts forecast that Canon, Inc. will post 2.50 EPS for the current fiscal year.

Canon Company Profile

Canon Inc is a Japan-based imaging and technology company that develops and sells products and solutions for consumers, businesses and professional users. Its offerings include digital cameras, interchangeable lenses, network cameras, inkjet and laser printers, scanners, projectors and related software and services.

The company also operates in medical and industrial technology. Its medical business provides diagnostic imaging systems, including computed tomography, magnetic resonance imaging, ultrasound and digital radiography equipment.