ValuEngine Lowers Canon (CAJ) to Sell

ValuEngine downgraded shares of Canon (NYSE:CAJ) from a hold rating to a sell rating in a report issued on Monday.

Separately, Zacks Investment Research cut Canon from a strong-buy rating to a hold rating in a report on Friday, April 6th.

CAJ opened at $33.25 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.00 and a quick ratio of 1.44. The stock has a market capitalization of $36.42 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.85 and a beta of 0.67. Canon has a 12 month low of $32.20 and a 12 month high of $40.67.

Canon (NYSE:CAJ) last posted its quarterly earnings results on Friday, May 11th. The technology company reported $0.49 EPS for the quarter. The company had revenue of $8.87 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Canon had a return on equity of 8.75% and a net margin of 6.00%. sell-side analysts forecast that Canon will post 2.25 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Raymond James & Associates grew its holdings in shares of Canon by 430.8% during the 4th quarter. Raymond James & Associates now owns 134,954 shares of the technology company’s stock worth $5,047,000 after purchasing an additional 109,529 shares during the period. Northern Trust Corp grew its holdings in shares of Canon by 0.5% during the 1st quarter. Northern Trust Corp now owns 968,677 shares of the technology company’s stock worth $35,308,000 after purchasing an additional 4,648 shares during the period. Green Square Capital LLC purchased a new stake in shares of Canon during the 4th quarter worth about $207,000. Brown Advisory Inc. purchased a new stake in shares of Canon during the 4th quarter worth about $207,000. Finally, NINE MASTS CAPITAL Ltd purchased a new stake in shares of Canon during the 4th quarter worth about $343,000. Institutional investors and hedge funds own 1.76% of the company’s stock.

About Canon

Canon Inc manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, diagnostic equipment, and lithography equipment. The company operates in four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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