Nikon Corp (NASDAQ:NINOY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Over the past one year, Nikon’s shares have grossly underperformed the industry’s average return. Nikon has also been seeing some bearish analyst estimate revision activity in recent months. Adverse foreign exchange impact and supply disruptions caused by the Kumamoto earthquakes further dented operations for this company. High R&D expenditure and investments related to the medical business, are escalating the company’s operational costs, thus putting pressure on margins. Moreover, effects of delayed budget execution by the government, adverse product mix in Imaging Products and poor performance of the Semiconductor Lithography business pose as headwinds for Nikon. Also, going forward slow imaging sales and foreign currency headwinds are likely to thwart growth. However, Nikon is focusing on expansion in two new segments, namely Medical and Instruments business, which should stoke growth in the times to come.”

Nikon Corp (NASDAQ:NINOY) traded up 0.14% during midday trading on Tuesday, hitting $17.28. The stock had a trading volume of 755 shares. Nikon Corp has a 1-year low of $13.94 and a 1-year high of $17.90. The stock’s 50-day moving average is $16.83 and its 200-day moving average is $15.91. The company has a market capitalization of $6.85 billion and a PE ratio of 540.00.

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About Nikon Corp

NIKON CORPORATION is mainly engaged in the manufacture and sale of image and video equipment. The Company operates in three business segments. The Precision Equipment segment offers semiconductor exposure apparatus and flat panel display (FPD) exposure apparatus products and services. The Video segment provides video related and its peripheral area products and services, such as interchangeable lens type digital cameras, compact digital cameras and interchangeable lenses.

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