November 25, 2016 - By Peter Kolinski
CLSA upgraded Canon (NYSE:CAJ)‘s stock to a “Outperform” rating from “Underperform”. The rating change was shared with investors and clients in a a report today.
Out of 3 analysts covering Canon (NYSE:CAJ), 0 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 0 are positive. Canon has been the topic of 4 analyst reports since November 20, 2015 according to StockzIntelligence Inc. On Friday, July 15 the stock rating was downgraded by CLSA to “Underperform”. On Thursday, January 7 the stock rating was downgraded by JP Morgan to “Neutral”. The rating was downgraded by Macquarie Research on Friday, November 20 to “Neutral”. As per Wednesday, October 26, the company rating was downgraded by JP Morgan.
About 124,044 shares traded hands. Canon Inc (ADR) (NYSE:CAJ) has declined 8.36% since April 22, 2016 and is downtrending. It has underperformed by 13.76% the S&P500.
Analysts await Canon Inc (ADR) (NYSE:CAJ) to report earnings on January, 25. They expect $0.60 earnings per share, up 15.38% or $0.08 from last year’s $0.52 per share. CAJ’s profit will be $784.86 million for 11.73 P/E if the $0.60 EPS becomes a reality. After $0.22 actual earnings per share reported by Canon Inc (ADR) for the previous quarter, Wall Street now forecasts 172.73% EPS growth.
Canon Inc. is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. The company has a market cap of $36.81 billion. Canon sells its products principally under the Canon brand name and through sales subsidiaries. It has a 19.93 P/E ratio. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.
According to Zacks Investment Research, “Canon, Inc. is an industry leader in professional and consumer imaging equipment and information systems. Canon’s extensive product line enables businesses and consumers worldwide to capture, store and distribute visual information. Canon products include full-color as well as black and white copiers; color laser printers; facsimile machines; micrographics and optical disk filing systems; word processors, typewriters and calculators; camcorders, and lenses; semiconductor, broadcast and optical equipment; and other specialized industrial products.”
Canon Inc. (Canon), incorporated on August 10, 1937, is a maker 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. Canon operates its business in three divisions: the Office Business Unit, the Imaging System Business Unit, and the Industry and Others Business Unit. Canon’s research and development activities range from basic research to product-oriented research directed at maintaining Canon’s technological activities in the marketplace. Canon has manufacturing subsidiaries in a range of countries, including the United States, Germany, France, the Netherlands, Taiwan, China, Malaysia, Thailand, Vietnam and the Philippines.
More news for Canon Inc (ADR) (NYSE:CAJ) were recently published by: Marketwatch.com, which released: “Canon Inc. ADR” on July 28, 2009. Bidnessetc.com‘s article titled: “Canon Inc (ADR) (CAJ) To Make A Major Strategic Acquisition Soon” and published on April 22, 2015 is yet another important article.
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