Canon, Inc. (NYSE:CAJ) has been assigned an average rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company.

CAJ has been the topic of a number of analyst reports. BidaskClub lowered shares of Canon from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Canon from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Wednesday, September 20th.

Canon (NYSE CAJ) opened at 34.32 on Friday. The stock has a market capitalization of $37.06 billion, a price-to-earnings ratio of 20.95 and a beta of 0.41. Canon has a 12-month low of $27.76 and a 12-month high of $35.91. The firm has a 50-day moving average of $34.83 and a 200 day moving average of $33.56.

Canon (NYSE:CAJ) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.57 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $8.86 billion for the quarter, compared to analyst estimates of $9.40 billion. On average, analysts predict that Canon will post $1.64 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC raised its stake in Canon by 301.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,275 shares of the technology company’s stock worth $111,000 after acquiring an additional 2,460 shares in the last quarter. Sei Investments Co. raised its stake in Canon by 67.5% during the 2nd quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock worth $161,000 after acquiring an additional 1,907 shares in the last quarter. Advisor Group Inc. raised its stake in Canon by 5.4% during the 2nd quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock worth $175,000 after acquiring an additional 263 shares in the last quarter. Jarislowsky Fraser Ltd acquired a new stake in Canon during the 2nd quarter worth $204,000. Finally, Eqis Capital Management Inc. acquired a new stake in Canon during the 2nd quarter worth $233,000. Institutional investors and hedge funds own 1.20% of the company’s stock.

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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.

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