Canon Downgraded to “Underperform” at Zacks (CAJ)
Canon (NYSE:CAJ) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Wednesday, American Banking & Market News reports. They currently have a $30.40 target price on the stock. Zacks‘ price objective points to a potential downside of 3.65% from the company’s current price.
Separately, analysts at Cross Research initiated coverage on shares of Canon (NYSE:CAJ) in a research note to investors on Friday, June 28th. They set a “hold” rating on the stock.
One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $30.40.
Canon (NYSE:CAJ) traded down 1.56% on Wednesday, hitting $31.55. The stock had a trading volume of 400,362 shares. Canon has a 52-week low of $29.81 and a 52-week high of $40.94. The stock has a 50-day moving average of $31.47 and a 200-day moving average of $34.37. The company has a market cap of $36.372 billion and a price-to-earnings ratio of 13.33.
Canon (NYSE:CAJ) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $57.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $54.03 by $3.65. The company had revenue of $966.88 billion for the quarter, compared to the consensus estimate of $951.13 billion. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts predict that Canon will post $2.45 earnings per share 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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