Canon Inc (NYSE:CAJ) – Investment analysts at Jefferies Financial Group reduced their FY2021 earnings estimates for Canon in a note issued to investors on Wednesday, April 24th, Zacks Investment Research reports. Jefferies Financial Group analyst M. Nakanomyo now forecasts that the technology company will post earnings of $1.79 per share for the year, down from their prior forecast of $2.05.
Several other research analysts have also weighed in on the company. Zacks Investment Research lowered Canon from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Morgan Stanley raised Canon from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, April 16th. Goldman Sachs Group raised Canon from a “sell” rating to a “neutral” rating in a research report on Thursday, February 21st. Finally, ValuEngine lowered Canon from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Canon has a consensus rating of “Hold”.
Shares of CAJ traded up $0.10 during trading hours on Friday, hitting $27.59. The stock had a trading volume of 866 shares, compared to its average volume of 308,100. The company has a current ratio of 1.92, a quick ratio of 1.28 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $29.89 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 3.52 and a beta of 0.56. Canon has a 12-month low of $26.36 and a 12-month high of $34.78.
Canon (NYSE:CAJ) last issued its earnings results on Wednesday, January 30th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $10.03 billion. Canon had a return on equity of 7.36% and a net margin of 5.88%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc increased its holdings in Canon by 2,000.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the technology company’s stock valued at $57,000 after purchasing an additional 2,000 shares in the last quarter. Credit Suisse AG increased its holdings in Canon by 74.4% in the 3rd quarter. Credit Suisse AG now owns 39,414 shares of the technology company’s stock valued at $1,247,000 after purchasing an additional 16,817 shares in the last quarter. Bessemer Group Inc. increased its holdings in Canon by 13.4% in the 4th quarter. Bessemer Group Inc. now owns 4,130 shares of the technology company’s stock valued at $114,000 after purchasing an additional 487 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Canon by 368.0% in the 4th quarter. Quadrant Capital Group LLC now owns 9,303 shares of the technology company’s stock valued at $251,000 after purchasing an additional 7,315 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its holdings in Canon by 54.0% in the 4th quarter. Cornerstone Advisors Inc. now owns 1,070 shares of the technology company’s stock valued at $30,000 after purchasing an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 1.18% of the company’s stock.
The business also recently declared a Semi-Annual dividend, which was paid on Friday, April 5th. Investors of record on Friday, December 28th were issued a $0.575 dividend. This is an increase from Canon’s previous Semi-Annual dividend of $0.57. The ex-dividend date of this dividend was Thursday, December 27th. Canon’s dividend payout ratio is currently 53.99%.
Canon Company Profile
Canon Inc manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, diagnostic equipment, and lithography equipment. The company operates through four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.