Canon (OTCMKTS:CAJPY) Shares Gap Down – Should You Sell?

Canon, Inc. (OTCMKTS:CAJPY) gapped down prior to trading on Wednesday . The stock had previously closed at $29.62, but opened at $28.1401. Canon shares last traded at $28.10, with a volume of 1,588 shares.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Canon from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Canon has a consensus rating of “Hold”.

Canon Trading Down 0.9%

The stock has a market cap of $24.61 billion, a price-to-earnings ratio of 11.03 and a beta of 0.52. The business has a 50-day simple moving average of $28.17 and a two-hundred day simple moving average of $27.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.46 and a quick ratio of 0.96.

Canon (OTCMKTS:CAJPY) last posted its earnings results on Monday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter. The company had revenue of $7.41 billion during the quarter. Canon had a net margin of 7.36% and a return on equity of 9.41%. Equities analysts forecast that Canon, Inc. will post 2.5 EPS for the current fiscal year.

Canon Company Profile

Canon Inc is a multinational corporation headquartered in Tokyo, Japan, renowned for its imaging and optical products. The company’s core businesses encompass the design, manufacturing, and sale of a broad range of products, including digital cameras, interchangeable lenses, printers, scanners, photocopiers, and multifunction office equipment. Canon also offers medical, industrial, and semiconductor lithography systems, supporting sectors such as healthcare, manufacturing, and electronics.

Founded in 1937 as Precision Optical Instruments Laboratory, Canon initially focused on the development of Japan’s first 35mm focal-plane-shutter camera.