Canon (OTCMKTS:CAJPY) Shares Gap Down – Here’s Why

Canon, Inc. (OTCMKTS:CAJPY – Get Free Report)’s share price 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 trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Canon from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Canon has an average rating of “Hold”.

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Read Our Latest Stock Analysis on CAJPY

Canon Stock Up 0.0%

The stock has a 50 day moving average price of $28.25 and a 200 day moving average price of $27.61. The stock has a market capitalization of $24.60 billion, a price-to-earnings ratio of 11.02 and a beta of 0.52. The company has a quick ratio of 0.96, a current ratio of 1.46 and a debt-to-equity ratio of 0.11.

Canon (OTCMKTS:CAJPY – Get Free Report) last released its quarterly earnings data 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 return on equity of 9.41% and a net margin of 7.36%. As a group, analysts forecast that Canon, Inc. will post 2.5 EPS for the current year.

Canon Company Profile

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Canon Inc is a Japan-based imaging and technology company that develops and manufactures products and solutions for consumers, businesses and professional organizations. Founded in 1937 as Precision Optical Industry Co, the company adopted the Canon name in 1947 and became Canon Inc in 1969.

Canon’s product portfolio includes interchangeable-lens cameras, compact cameras, lenses, digital video equipment and related imaging accessories. The company also provides office and production printing systems, multifunction devices, document management solutions and commercial printing equipment.

Beyond consumer and office products, Canon develops medical imaging systems, including diagnostic equipment, as well as network cameras, semiconductor and display manufacturing equipment, and other industrial technologies.

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