Canon Inc. (NYSE:CAJ) – Research analysts at Jefferies Group raised their FY2016 earnings per share estimates for Canon in a note issued to investors on Tuesday. Jefferies Group analyst M. Nakanomyo now forecasts that the firm will post earnings per share of $1.98 for the year, up from their prior estimate of $1.48. Jefferies Group also issued estimates for Canon’s FY2017 earnings at $2.41 EPS and FY2018 earnings at $2.45 EPS.
Several other research firms have also commented on CAJ. Zacks Investment Research lowered shares of Canon from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 21st. Credit Agricole SA lowered shares of Canon from a “buy” rating to an “underperform” rating in a research report on Friday, July 15th. Finally, TheStreet upgraded shares of Canon from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Canon presently has a consensus rating of “Hold” and a consensus price target of $33.00.
Canon (NYSE:CAJ) opened at 29.02 on Thursday. The stock has a market cap of $31.69 billion, a PE ratio of 16.08 and a beta of 0.51. The company’s 50 day moving average is $28.82 and its 200-day moving average is $28.75. Canon has a 1-year low of $26.60 and a 1-year high of $31.96.
A number of institutional investors have recently bought and sold shares of CAJ. Advisor Group Inc. bought a new position in Canon during the second quarter valued at about $109,000. Signaturefd LLC increased its position in Canon by 10.7% in the second quarter. Signaturefd LLC now owns 4,394 shares of the company’s stock valued at $126,000 after buying an additional 426 shares during the last quarter. Private Bank & Trust Co. bought a new position in Canon during the second quarter valued at about $214,000. Stevens Capital Management LP bought a new position in Canon during the second quarter valued at about $215,000. Finally, Dynamic Advisors Solutions LLC increased its position in Canon by 6.9% in the second quarter. Dynamic Advisors Solutions LLC now owns 8,243 shares of the company’s stock valued at $236,000 after buying an additional 530 shares during the last quarter. 1.57% of the stock is currently owned by institutional investors and hedge funds.
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. The Company operates in three segments: the Office Business Unit, the Imaging System Business Unit, and the Industry and Others Business Unit.
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