Canon (OTCMKTS:CAJPY) Shares Down 0.4% – Here’s Why

Canon, Inc. (OTCMKTS:CAJPY)’s stock price fell 0.4% during mid-day trading on Friday . The company traded as low as $26.71 and last traded at $26.92. 113,399 shares traded hands during mid-day trading, an increase of 23% from the average session volume of 91,953 shares. The stock had previously closed at $27.04.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of Canon from a “hold” rating to a “strong sell” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Canon currently has a consensus rating of “Sell”.

Canon Trading Down 0.4%

The company has a quick ratio of 0.97, a current ratio of 1.47 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $26.94 and its 200 day moving average price is $28.69. The company has a market capitalization of $23.65 billion, a P/E ratio of 11.81 and a beta of 0.52.

Canon (OTCMKTS:CAJPY) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.35 earnings per share (EPS) for the quarter. Canon had a net margin of 6.62% and a return on equity of 8.52%. The business had revenue of $6.97 billion during the quarter. As a group, equities research analysts predict that Canon, Inc. will post 2.5 earnings per share for the current year.

Canon Company Profile

Canon Inc is a multinational corporation headquartered in Tokyo, Japan, renowned for its imaging and optical products. The company’s core businesses encompass the design, manufacturing, and sale of a broad range of products, including digital cameras, interchangeable lenses, printers, scanners, photocopiers, and multifunction office equipment. Canon also offers medical, industrial, and semiconductor lithography systems, supporting sectors such as healthcare, manufacturing, and electronics.

Founded in 1937 as Precision Optical Instruments Laboratory, Canon initially focused on the development of Japan’s first 35mm focal-plane-shutter camera.