Nikon (OTCMKTS:NINOY) Shares Gap Down Following Weak Earnings

Nikon Corp. (OTCMKTS:NINOY)’s share price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $11.76, but opened at $10.52. Nikon shares last traded at $12.83, with a volume of 275 shares traded.

The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.15). Nikon had a return on equity of 1.99% and a net margin of 1.85%.The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.03 billion.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut shares of Nikon from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Nikon presently has an average rating of “Hold”.

Nikon Stock Performance

The company has a current ratio of 1.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average is $11.82 and its 200 day moving average is $10.56. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 43.96 and a beta of 0.49.

Nikon Company Profile

Nikon Corporation manufactures and sells optical instruments in Japan, North America, Europe, China, Thailand, and internationally. It operates through Imaging Products Business, Precision Equipment Business, Healthcare Business, Components Business, and Industrial equipment and Others segments. The Imaging Products Business segment provides digital SLR cameras, compact digital cameras, and interchangeable camera lenses.