Nikon (OTCMKTS:NINOY) Shares Gap Up – Here’s Why

Nikon Corp. (OTCMKTS:NINOY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $11.30, but opened at $12.08. Nikon shares last traded at $12.08, with a volume of 16 shares traded.

Wall Street Analyst Weigh In

NINOY has been the subject of several analyst reports. Zacks Research cut Nikon from a “hold” rating to a “strong sell” rating in a report on Tuesday. Jefferies Financial Group downgraded Nikon from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

Nikon Stock Up 6.9%

The firm’s 50 day simple moving average is $11.85 and its 200-day simple moving average is $10.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.98 and a quick ratio of 0.97. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 46.46 and a beta of 0.49.

Nikon (OTCMKTS:NINOY) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.15). Nikon had a net margin of 1.85% and a return on equity of 1.99%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.03 billion. As a group, sell-side analysts anticipate that Nikon Corp. will post 0.44 earnings per share for the current year.

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.