Canon, Inc. (CAJ) Given Consensus Recommendation of “Hold” by Analysts
Shares of Canon, Inc. (NYSE:CAJ) have received a consensus rating of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company.
Separately, BidaskClub upgraded Canon from a “hold” rating to a “buy” rating in a research note on Monday, July 31st.
Shares of Canon (CAJ) opened at 34.60 on Wednesday. Canon has a 52-week low of $27.76 and a 52-week high of $35.91. The company’s 50 day moving average price is $34.81 and its 200 day moving average price is $33.21. The stock has a market capitalization of $37.36 billion, a PE ratio of 21.34 and a beta of 0.41.
Canon (NYSE:CAJ) last announced its earnings results on Thursday, July 27th. The technology company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Canon had a return on equity of 6.48% and a net margin of 5.17%. The firm had revenue of $8.86 billion for the quarter, compared to the consensus estimate of $9.40 billion. On average, equities research analysts anticipate that Canon will post $1.65 EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC grew its stake in Canon by 301.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,275 shares of the technology company’s stock worth $111,000 after buying an additional 2,460 shares during the last quarter. Sei Investments Co. grew its stake in Canon by 67.5% during the 2nd quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock worth $161,000 after buying an additional 1,907 shares during the last quarter. Advisor Group Inc. grew its stake in Canon by 5.4% during the 2nd quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock worth $175,000 after buying an additional 263 shares during the last quarter. Jarislowsky Fraser Ltd purchased a new position in Canon during the 2nd quarter worth $204,000. Finally, Eqis Capital Management Inc. purchased a new position in Canon during the 2nd quarter worth $233,000. Hedge funds and other institutional investors own 1.21% of the company’s stock.
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Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.
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