Canon (CAJ) Reaches New 52-Week Low at $27.46

Shares of Canon Inc (NYSE:CAJ) reached a new 52-week low on Thursday . The stock traded as low as $27.46 and last traded at $27.79, with a volume of 22145 shares trading hands. The stock had previously closed at $28.02.

Several analysts have recently weighed in on CAJ shares. Zacks Investment Research raised shares of Canon from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. JPMorgan Chase & Co. downgraded shares of Canon from a “neutral” rating to an “underweight” rating in a research note on Thursday, September 13th.

The company has a current ratio of 2.04, a quick ratio of 1.40 and a debt-to-equity ratio of 0.14. The company has a market cap of $30.53 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.69 and a beta of 0.79.

Canon (NYSE:CAJ) last issued its quarterly earnings data on Thursday, October 25th. The technology company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The business had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $9.01 billion. Canon had a return on equity of 8.36% and a net margin of 5.88%. As a group, equities analysts predict that Canon Inc will post 2.07 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of CAJ. Moody National Bank Trust Division bought a new position in Canon in the third quarter worth approximately $110,000. LPL Financial LLC bought a new position in Canon in the third quarter worth approximately $215,000. Rhumbline Advisers bought a new position in Canon in the third quarter worth approximately $229,000. CWM LLC raised its stake in Canon by 4,305.5% in the third quarter. CWM LLC now owns 8,018 shares of the technology company’s stock worth $254,000 after buying an additional 7,836 shares in the last quarter. Finally, Cozad Asset Management Inc. bought a new position in Canon in the second quarter worth approximately $260,000. 1.59% of the stock is owned by institutional investors.

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Canon Company Profile (NYSE:CAJ)

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.

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