Canon (CAJ) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Canon (NYSE:CAJ) from a strong-buy rating to a hold rating in a research report released on Friday morning.

According to Zacks, “Canon, Inc. is an industry leader in professional and consumer imaging equipment and information systems. Canon’s extensive product line enables businesses and consumers worldwide to capture, store and distribute visual information. Canon products include full-color as well as black and white copiers; color laser printers; facsimile machines; micrographics and optical disk filing systems; word processors, typewriters and calculators; camcorders, and lenses; semiconductor, broadcast and optical equipment; and other specialized industrial products. “

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Separately, ValuEngine upgraded Canon from a hold rating to a buy rating in a research note on Friday, February 2nd.

NYSE:CAJ traded down $0.96 during trading on Friday, reaching $35.52. The company’s stock had a trading volume of 465,639 shares, compared to its average volume of 571,649. The company has a market capitalization of $39,838.64, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.09 and a beta of 0.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.01 and a quick ratio of 1.50. Canon has a 12 month low of $30.79 and a 12 month high of $40.67.

Canon (NYSE:CAJ) last announced its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. The firm had revenue of $9.93 billion during the quarter, compared to the consensus estimate of $9.89 billion. Canon had a return on equity of 8.75% and a net margin of 5.93%. sell-side analysts anticipate that Canon will post 2.18 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of CAJ. Baker Ellis Asset Management LLC purchased a new position in shares of Canon during the 4th quarter valued at $123,000. FNY Partners Fund LP purchased a new position in shares of Canon during the 4th quarter valued at $149,000. Brown Advisory Inc. purchased a new position in shares of Canon during the 4th quarter valued at $207,000. Green Square Capital LLC purchased a new position in shares of Canon during the 4th quarter valued at $207,000. Finally, Zevin Asset Management LLC purchased a new position in shares of Canon during the 4th quarter valued at $210,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

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About Canon

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.

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