Canon, Inc. (NYSE:CAJ) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company.

Several research analysts have commented on the company. BidaskClub downgraded Canon from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Zacks Investment Research raised Canon from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a report on Tuesday, April 18th.

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Shares of Canon (CAJ) opened at 34.84 on Friday. The company has a market cap of $37.62 billion, a P/E ratio of 21.71 and a beta of 0.41. The stock’s 50 day moving average price is $34.30 and its 200-day moving average price is $32.48. Canon has a 52-week low of $27.76 and a 52-week high of $35.91.

Canon (NYSE:CAJ) last announced its earnings results on Thursday, July 27th. The technology company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The firm had revenue of $8.86 billion for the quarter, compared to the consensus estimate of $9.40 billion. Canon had a return on equity of 6.48% and a net margin of 5.17%. Equities analysts expect that Canon will post $1.64 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC increased its position in shares of Canon by 301.8% in the first quarter. Proficio Capital Partners LLC now owns 3,275 shares of the technology company’s stock valued at $111,000 after buying an additional 2,460 shares during the last quarter. Sei Investments Co. increased its position in shares of Canon by 67.5% in the second quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock valued at $161,000 after buying an additional 1,907 shares during the last quarter. Advisor Group Inc. increased its position in shares of Canon by 5.4% in the second quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock valued at $175,000 after buying an additional 263 shares during the last quarter. Jarislowsky Fraser Ltd bought a new position in shares of Canon during the second quarter valued at approximately $204,000. Finally, Eqis Capital Management Inc. bought a new position in shares of Canon during the second quarter valued at approximately $233,000. 1.50% of the stock is currently owned by hedge funds and other institutional investors.

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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