Canon (CAJ) Sets New 12-Month Low at $27.46

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

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

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

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAJ. Moody National Bank Trust Division purchased a new position in Canon in the third quarter worth about $110,000. LPL Financial LLC bought a new stake in Canon in the third quarter worth about $215,000. Rhumbline Advisers bought a new stake in Canon in the third quarter worth about $229,000. CWM LLC lifted 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 purchasing an additional 7,836 shares during the last quarter. Finally, Cozad Asset Management Inc. bought a new stake in Canon in the second quarter worth about $260,000. Institutional investors own 1.59% of the company’s stock.

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About Canon (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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