Canon Inc Forecasted to Earn FY2018 Earnings of $2.26 Per Share (CAJ)

Canon Inc (NYSE:CAJ) – Jefferies Group dropped their FY2018 earnings per share (EPS) estimates for Canon in a note issued to investors on Tuesday, April 3rd. Jefferies Group analyst M. Nakanomyo now forecasts that the technology company will post earnings of $2.26 per share for the year, down from their prior forecast of $2.45.

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Canon (NYSE:CAJ) last announced its earnings results on Tuesday, January 30th. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.07. The business had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.89 billion. Canon had a return on equity of 8.75% and a net margin of 5.93%.

CAJ has been the topic of several other research reports. ValuEngine raised Canon from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised Canon from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, January 16th.

Shares of NYSE CAJ opened at $35.52 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.16. The firm has a market cap of $39,445.50, a price-to-earnings ratio of 16.52, a P/E/G ratio of 2.01 and a beta of 0.64. Canon has a 12-month low of $30.79 and a 12-month high of $40.67.

Institutional investors and hedge funds have recently modified their holdings of the company. Baker Ellis Asset Management LLC purchased a new stake in shares of Canon during the 4th quarter valued at $123,000. FNY Partners Fund LP purchased a new stake in shares of Canon during the 4th quarter valued at $149,000. Green Square Capital LLC purchased a new stake in shares of Canon during the 4th quarter valued at $207,000. Brown Advisory Inc. purchased a new stake in shares of Canon during the 4th quarter valued at $207,000. Finally, Zevin Asset Management LLC purchased a new stake in shares of Canon during the 4th quarter valued at $210,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

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Canon Company Profile

Canon Inc manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, and lithography equipment. The company operates in three segments: Office Business Unit, Imaging System Business Unit, and Industry and Others Business Unit. The Office Business Unit segment manufactures, markets, and services a range of office MFDs, printers, copying machines for personal and office use, production print products for print professionals, laser multifunction printers, digital production printing systems, continuous feed printers, wide-format printers, and document solutions, as well as provides software, services, and solutions.

Earnings History and Estimates for Canon (NYSE:CAJ)

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