Canon, Inc. (NYSE:CAJ) – Equities research analysts at Jefferies Group lifted their FY2017 earnings per share estimates for shares of Canon in a note issued to investors on Thursday. Jefferies Group analyst M. Nakanomyo now expects that the technology company will post earnings of $1.89 per share for the year, up from their previous estimate of $1.85.
Canon (NYSE:CAJ) last posted its earnings results on Thursday, July 27th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.40 billion. ILLEGAL ACTIVITY NOTICE: “Jefferies Group Comments on Canon, Inc.’s FY2017 Earnings (CAJ)” was first reported by BNB Daily and is the property of of BNB Daily. If you are reading this piece of content on another domain, it was stolen and reposted in violation of US & international trademark & copyright laws. The correct version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/19/jefferies-group-comments-on-canon-inc-s-fy2017-earnings-caj-updated-updated.html.
A number of other analysts have also recently weighed in on CAJ. BidaskClub upgraded shares of Canon from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research cut shares of Canon from a “buy” rating to a “hold” rating in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.
Canon (CAJ) traded up 0.34% during midday trading on Monday, reaching $35.05. The company had a trading volume of 25,990 shares. The company has a market capitalization of $38.17 billion, a P/E ratio of 22.13 and a beta of 0.40. The company’s 50 day moving average is $34.36 and its 200-day moving average is $32.16. Canon has a 52-week low of $27.71 and a 52-week high of $35.91.
A number of hedge funds have recently modified their holdings of the company. Proficio Capital Partners LLC boosted its stake in shares of Canon by 301.8% in the first 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. boosted its stake in shares of Canon by 67.5% in the second 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. Jarislowsky Fraser Ltd acquired a new stake in shares of Canon during the second quarter worth $204,000. Eqis Capital Management Inc. acquired a new stake in shares of Canon during the second quarter worth $233,000. Finally, Signaturefd LLC acquired a new stake in shares of Canon during the first quarter worth $247,000. Hedge funds and other institutional investors own 1.51% of the company’s stock.
Canon Company Profile
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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