Canon (OTCMKTS:CAJPY) Shares Gap Down – Here’s What Happened

Shares of Canon, Inc. (OTCMKTS:CAJPY) gapped down prior to trading on Tuesday. The stock had previously closed at $31.62, but opened at $30.35. Canon shares last traded at $29.7240, with a volume of 87,016 shares.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Canon from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Canon Stock Down 7.1%

The company has a market cap of $25.81 billion, a P/E ratio of 11.56 and a beta of 0.54. The company has a quick ratio of 0.96, a current ratio of 1.46 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $29.34 and a 200 day moving average of $28.38.

Canon (OTCMKTS:CAJPY) last posted its earnings results on Tuesday, October 27th. The company reported $0.56 earnings per share for the quarter. Canon had a return on equity of 9.41% and a net margin of 7.36%. On average, research analysts anticipate that Canon, Inc. will post 2.50 earnings per share for the current fiscal year.

About Canon

Canon Inc is a Japan-based imaging and technology company that develops and sells products and solutions for consumers, businesses and professional users. Its offerings include digital cameras, interchangeable lenses, network cameras, inkjet and laser printers, scanners, projectors and related software and services.

The company also operates in medical and industrial technology. Its medical business provides diagnostic imaging systems, including computed tomography, magnetic resonance imaging, ultrasound and digital radiography equipment.