Canon, Inc. (NYSE:CAJ) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Separately, Zacks Investment Research downgraded shares of Canon from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Canon has a consensus rating of “Hold” and an average target price of $36.00.

Shares of Canon (NYSE:CAJ) traded down 0.14% during mid-day trading on Wednesday, hitting $34.80. The stock had a trading volume of 80,619 shares. Canon has a 12 month low of $27.76 and a 12 month high of $35.91. The firm has a market cap of $37.58 billion, a PE ratio of 21.60 and a beta of 0.41. The stock’s 50-day moving average is $34.51 and its 200 day moving average is $32.87.

Canon (NYSE:CAJ) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. Canon had a net margin of 5.17% and a return on equity of 6.48%. The firm had revenue of $8.86 billion for the quarter, compared to the consensus estimate of $9.40 billion. Equities research analysts predict that Canon will post $1.65 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Karp Capital Management Corp acquired a new position in Canon during the first quarter worth about $41,746,000. Mondrian Investment Partners LTD increased its position in Canon by 31.8% in the first quarter. Mondrian Investment Partners LTD now owns 1,238,737 shares of the technology company’s stock worth $38,401,000 after buying an additional 299,000 shares during the last quarter. Renaissance Technologies LLC increased its position in Canon by 25.5% in the first quarter. Renaissance Technologies LLC now owns 989,800 shares of the technology company’s stock worth $30,951,000 after buying an additional 201,000 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Canon by 44.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 512,602 shares of the technology company’s stock worth $17,439,000 after buying an additional 158,473 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Canon during the first quarter worth about $3,753,000. Institutional investors own 1.21% of the company’s stock.

About Canon

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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