Canon, Inc. (NYSE:CAJ) Given Consensus Rating of “Hold” by Brokerages
Shares of Canon, Inc. (NYSE:CAJ) have been given an average recommendation of “Hold” by the six analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company.
A number of research firms have recently weighed in on CAJ. Zacks Investment Research cut Canon from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 12th. BidaskClub cut Canon from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th.
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Several large investors have recently added to or reduced their stakes in the stock. Holderness Investments Co. boosted its stake in Canon by 2.9% in the first quarter. Holderness Investments Co. now owns 11,520 shares of the technology company’s stock worth $360,000 after buying an additional 325 shares during the period. Regentatlantic Capital LLC boosted its stake in Canon by 1.0% in the first quarter. Regentatlantic Capital LLC now owns 36,145 shares of the technology company’s stock worth $1,130,000 after buying an additional 365 shares during the period. Comerica Bank boosted its stake in Canon by 0.7% in the first quarter. Comerica Bank now owns 77,519 shares of the technology company’s stock worth $2,586,000 after buying an additional 546 shares during the period. Peak Asset Management LLC boosted its stake in Canon by 1.1% in the first quarter. Peak Asset Management LLC now owns 74,815 shares of the technology company’s stock worth $2,339,000 after buying an additional 829 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Canon by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 181,850 shares of the technology company’s stock worth $5,686,000 after buying an additional 942 shares during the period. 1.52% of the stock is currently owned by institutional investors.
Canon (NYSE:CAJ) opened at 33.63 on Tuesday. The stock’s 50 day moving average price is $34.67 and its 200-day moving average price is $31.35. Canon has a 52 week low of $27.18 and a 52 week high of $35.91. The stock has a market capitalization of $36.73 billion, a P/E ratio of 23.15 and a beta of 0.40.
Canon (NYSE:CAJ) last released its quarterly earnings results on Wednesday, April 26th. The technology company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.22. The company had revenue of $8.69 billion for the quarter, compared to analysts’ expectations of $8.04 billion. Canon had a return on equity of 6.11% and a net margin of 4.95%. Equities research analysts expect that Canon will post $1.48 earnings per share for the current year.
Canon Company Profile
Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.
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