Canon, Inc. Forecasted to Post Q3 2017 Earnings of $0.38 Per Share (CAJ)

Canon, Inc. (NYSE:CAJ) – Research analysts at Jefferies Group issued their Q3 2017 earnings per share (EPS) estimates for shares of Canon in a report released on Friday. Jefferies Group analyst M. Nakanomyo forecasts that the technology company will post earnings per share of $0.38 for the quarter. Jefferies Group also issued estimates for Canon’s Q4 2017 earnings at $0.56 EPS, FY2017 earnings at $2.02 EPS, FY2018 earnings at $2.14 EPS and FY2019 earnings at $2.34 EPS.

Canon (NYSE:CAJ) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Canon had a net margin of 5.17% and a return on equity of 6.48%. The company had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $9.40 billion.

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A number of other research firms have also issued reports on CAJ. Zacks Investment Research downgraded shares of Canon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub downgraded shares of Canon from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.00.

Canon (CAJ) opened at 34.70 on Monday. The company’s 50 day moving average is $34.51 and its 200 day moving average is $33.94. Canon has a 12-month low of $27.76 and a 12-month high of $35.91. The firm has a market cap of $37.47 billion, a price-to-earnings ratio of 21.18 and a beta of 0.42.

Hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its holdings in Canon by 1.7% during the 1st quarter. FMR LLC now owns 525,719 shares of the technology company’s stock valued at $16,439,000 after purchasing an additional 8,834 shares during the last quarter. Jarislowsky Fraser Ltd acquired a new stake in Canon in the 2nd quarter valued at about $204,000. Dimensional Fund Advisors LP increased its position in Canon by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 181,850 shares of the technology company’s stock valued at $5,686,000 after acquiring an additional 942 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Canon by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 124,067 shares of the technology company’s stock valued at $3,880,000 after acquiring an additional 2,962 shares in the last quarter. Finally, UBS Group AG increased its position in Canon by 4.2% in the 1st quarter. UBS Group AG now owns 26,927 shares of the technology company’s stock valued at $842,000 after acquiring an additional 1,082 shares in the last quarter. 1.20% of the stock is owned by hedge funds and other institutional investors.

Canon Company Profile

Canon Inc (Canon) is a manufacturer 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 terr

Canon, Inc. (NYSE:CAJ) – Research analysts at Jefferies Group issued their Q3 2017 earnings per share (EPS) estimates for shares of Canon in a report released on Friday. Jefferies Group analyst M. Nakanomyo forecasts that the technology company will post earnings per share of $0.38 for the quarter. Jefferies Group also issued estimates for Canon’s Q4 2017 earnings at $0.56 EPS, FY2017 earnings at $2.02 EPS, FY2018 earnings at $2.14 EPS and FY2019 earnings at $2.34 EPS.

Canon (NYSE:CAJ) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Canon had a net margin of 5.17% and a return on equity of 6.48%. The company had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $9.40 billion.

ILLEGAL ACTIVITY NOTICE: This report was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://ledgergazette.com/2017/10/10/canon-inc-forecasted-to-post-q3-2017-earnings-of-0-38-per-share-caj.html.

A number of other research firms have also issued reports on CAJ. Zacks Investment Research downgraded shares of Canon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub downgraded shares of Canon from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.00.

Canon (CAJ) opened at 34.70 on Monday. The company’s 50 day moving average is $34.51 and its 200 day moving average is $33.94. Canon has a 12-month low of $27.76 and a 12-month high of $35.91. The firm has a market cap of $37.47 billion, a price-to-earnings ratio of 21.18 and a beta of 0.42.

Hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its holdings in Canon by 1.7% during the 1st quarter. FMR LLC now owns 525,719 shares of the technology company’s stock valued at $16,439,000 after purchasing an additional 8,834 shares during the last quarter. Jarislowsky Fraser Ltd acquired a new stake in Canon in the 2nd quarter valued at about $204,000. Dimensional Fund Advisors LP increased its position in Canon by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 181,850 shares of the technology company’s stock valued at $5,686,000 after acquiring an additional 942 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Canon by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 124,067 shares of the technology company’s stock valued at $3,880,000 after acquiring an additional 2,962 shares in the last quarter. Finally, UBS Group AG increased its position in Canon by 4.2% in the 1st quarter. UBS Group AG now owns 26,927 shares of the technology company’s stock valued at $842,000 after acquiring an additional 1,082 shares in the last quarter. 1.20% of the stock is owned by hedge funds and other institutional investors.

Canon Company Profile

Canon Inc (Canon) is a manufacturer 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.

Earnings History and Estimates for Canon (NYSE:CAJ)

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