Canon (CAJ) Reaches New 1-Year High at $39.46
Shares of Canon Inc (NYSE:CAJ) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $39.46 and last traded at $38.97, with a volume of 271700 shares changing hands. The stock had previously closed at $38.90.
Several analysts recently issued reports on CAJ shares. Zacks Investment Research upgraded shares of Canon from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a report on Monday, October 9th. ValuEngine upgraded shares of Canon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $44.00.
The firm has a market cap of $42,481.45, a price-to-earnings ratio of 21.65, a PEG ratio of 2.21 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.44 and a current ratio of 2.03.
Canon (NYSE:CAJ) last issued its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.14. Canon had a net margin of 5.91% and a return on equity of 7.70%. research analysts forecast that Canon Inc will post 2.09 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Inc. grew its position in Canon by 5.4% during the 2nd quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock worth $175,000 after acquiring an additional 263 shares during the last quarter. FDx Advisors Inc. bought a new position in shares of Canon during the 3rd quarter valued at approximately $236,000. Advisor Partners LLC bought a new position in shares of Canon during the 3rd quarter valued at approximately $250,000. Sei Investments Co. grew its position in shares of Canon by 58.5% during the 3rd quarter. Sei Investments Co. now owns 7,500 shares of the technology company’s stock valued at $257,000 after acquiring an additional 2,768 shares during the period. Finally, Institute for Wealth Management LLC. bought a new position in shares of Canon during the 2nd quarter valued at approximately $280,000. Hedge funds and other institutional investors own 1.27% 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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