Jefferies Group Comments on Canon, Inc.’s Q3 2017 Earnings (CAJ)
Canon, Inc. (NYSE:CAJ) – Stock analysts at Jefferies Group issued their Q3 2017 earnings per share (EPS) estimates for Canon in a research report issued on Friday. Jefferies Group analyst M. Nakanomyo anticipates that the technology company will post earnings per share of $0.38 for the quarter. Jefferies Group also issued estimates for Canon’s Q4 2017 earnings at $0.56 EPS, FY2017 earnings at $2.02 EPS, FY2018 earnings at $2.14 EPS and FY2019 earnings at $2.34 EPS.
Other research analysts have also issued reports about the stock. BidaskClub upgraded shares of Canon from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of Canon from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $40.00.
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Shares of Canon (NYSE:CAJ) opened at 35.10 on Monday. Canon has a 52 week low of $27.76 and a 52 week high of $35.91. The company has a 50 day moving average price of $34.52 and a 200 day moving average price of $33.97. The company has a market capitalization of $37.90 billion, a PE ratio of 21.43 and a beta of 0.42.
Canon (NYSE:CAJ) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Canon had a return on equity of 6.48% and a net margin of 5.17%.
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in Canon by 1.7% in the 1st quarter. FMR LLC now owns 525,719 shares of the technology company’s stock valued at $16,439,000 after buying an additional 8,834 shares in the last quarter. Jarislowsky Fraser Ltd bought a new position in Canon in the 2nd quarter valued at $204,000. Dimensional Fund Advisors LP boosted its holdings in Canon by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 181,850 shares of the technology company’s stock valued at $5,686,000 after purchasing an additional 942 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Canon by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 124,067 shares of the technology company’s stock valued at $3,880,000 after purchasing an additional 2,962 shares during the period. Finally, UBS Group AG boosted its holdings in Canon by 4.2% in the 1st quarter. UBS Group AG now owns 26,927 shares of the technology company’s stock valued at $842,000 after purchasing an additional 1,082 shares during the period. Institutional investors and hedge funds own 1.20% of the company’s stock.
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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