NIKON CORP/ADR (OTCMKTS:NINOY) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research downgraded shares of NIKON CORP/ADR (OTCMKTS:NINOY) from a strong-buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports. They currently have $14.00 price objective on the stock.
According to Zacks, “Nikon’s first-quarter fiscal 2020 results were disappointing. Both earnings and revenues declined on a year-over-year basis due to weakness in Imaging Products and Precision Equipment businesses. However, semiconductor lithography business grew due to sales of new systems, including the ArF immersion systems. Although the stock has underperformed the industry on a year-to-date basis, we expect it to bounce back during the rest of fiscal 2020, as semiconductor capital spending recovers. Moreover, Nikon benefits from solid high-end camera sales, driven by the launch of ML products. Further, solid healthcare growth is expected to be driven by expanding footprints at bioscience and the ophthalmic diagnosis spaces. Nikon reiterated its fiscal 2020 guidance based on these growth factors.”
Separately, ValuEngine raised NIKON CORP/ADR from a strong sell rating to a sell rating in a research note on Thursday, May 9th.
NIKON CORP/ADR (OTCMKTS:NINOY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.05. NIKON CORP/ADR had a return on equity of 9.66% and a net margin of 8.46%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.25 billion. On average, equities analysts predict that NIKON CORP/ADR will post 1 earnings per share for the current year.
NIKON CORP/ADR Company Profile
Nikon Corporation manufactures and sells optical instruments in Japan and internationally. It operates through three segments: Imaging Products Business, Precision Equipment Business, and Healthcare Business. The Imaging Products Business segment develops, manufacture, sells and service of digital camerasinterchangeable lens type, interchangeable lenses and compact digital cameras, and other products.
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