Canon Inc (NYSE:CAJ) – Investment analysts at Jefferies Group raised their FY2018 earnings per share estimates for shares of Canon in a research note issued on Tuesday, Zacks Investment Research reports. Jefferies Group analyst M. Nakanomyo now expects that the technology company will earn $2.45 per share for the year, up from their prior estimate of $2.33. Jefferies Group also issued estimates for Canon’s FY2019 earnings at $2.49 EPS and FY2020 earnings at $2.54 EPS.
Several other equities research analysts have also recently commented on CAJ. Zacks Investment Research cut Canon from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. ValuEngine upgraded Canon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $44.00.
Shares of Canon (CAJ) opened at $37.70 on Thursday. Canon has a one year low of $28.94 and a one year high of $40.67. The company has a market capitalization of $49,910.00, a P/E ratio of 17.95, a P/E/G ratio of 2.07 and a beta of 0.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.50 and a current ratio of 2.01.
A number of large investors have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its holdings in Canon by 0.4% in the second quarter. Macquarie Group Ltd. now owns 2,188,904 shares of the technology company’s stock worth $74,467,000 after acquiring an additional 9,515 shares in the last quarter. Aperio Group LLC boosted its holdings in Canon by 3.8% in the fourth quarter. Aperio Group LLC now owns 1,460,518 shares of the technology company’s stock worth $54,623,000 after acquiring an additional 53,965 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Canon by 0.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 847,462 shares of the technology company’s stock worth $31,695,000 after acquiring an additional 4,876 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Canon by 13.1% in the third quarter. Parametric Portfolio Associates LLC now owns 843,481 shares of the technology company’s stock worth $28,948,000 after acquiring an additional 97,986 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Canon by 0.5% in the third quarter. First Trust Advisors LP now owns 590,771 shares of the technology company’s stock worth $20,275,000 after acquiring an additional 3,199 shares in the last quarter. Institutional investors and hedge funds own 1.29% of the company’s stock.
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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.
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