Canon Inc. (NYSE: CAJ – Get a rating) was the target of a significant drop in short rates during the month of May. As of May 15, there was short interest totaling 935,200 shares, down 48.6% from the April 30 total of 1,820,000 shares. Based on an average daily volume of 266,400 shares, the short interest ratio is currently 3.5 days. Currently, 0.1% of the company’s shares are sold short.
Several equity analysts have recently commented on the stock. Zacks Investment Research cut Canon shares from a “buy” rating to a “hold” rating in a Thursday, April 14 research report. StockNews.com downgraded Canon shares from a “strong buy” rating to a “buy” rating in a Thursday, April 28 research note.
NYSE: CAJ opened at $25.57 on Friday. The company has a debt ratio of 0.06, a quick ratio of 1.13 and a current ratio of 1.77. The company’s 50-day moving average is $24.01 and its 200-day moving average is $23.84. Canon has a 52 week low of $21.00 and a 52 week high of $25.61. The company has a market capitalization of $27.20 billion, a price/earnings ratio of 14.21, a PEG ratio of 11.96 and a beta of 0.38.
Canon (NYSE: CAJ – Get a rating) last released its quarterly results on Tuesday, April 26. The tech company reported EPS of $0.38 for the quarter, missing analyst consensus estimates of $0.44 per ($0.06). Canon had a net margin of 6.10% and a return on equity of 6.83%. The company posted revenue of $7.57 billion in the quarter, versus analyst estimates of $8.20 billion. Stock analysts predict that Canon will post an EPS of 2.1 for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of CAJ. First Horizon Advisors Inc. increased its stake in Canon by 59.0% in the fourth quarter. First Horizon Advisors Inc. now owns 1,178 shares of the technology company valued at $28,000 after buying 437 additional shares last quarter. Exane Derivatives increased its stake in Canon by 79.7% in the fourth quarter. Exane Derivatives now owns 1,357 shares of the technology company valued at $33,000 after buying 602 additional shares last quarter. Rosenberg Matthew Hamilton bought a new stake in Canon in the first quarter worth around $37,000. Captrust Financial Advisors increased its stake in Canon by 59.7% in the first quarter. Captrust Financial Advisors now owns 1,530 shares of the technology company valued at $37,000 after buying 572 additional shares last quarter. Finally, Fieldpoint Private Securities LLC increased its stake in Canon by 48.9% in the fourth quarter. Fieldpoint Private Securities LLC now owns 1,690 shares of the technology company valued at $41,000 after buying 555 additional shares in the last quarter.
Canon Company Profile (Get a rating)
Canon Inc, together with its subsidiaries, manufactures and sells office multifunction devices (MFDs), plain paper copiers, laser and inkjet printers, cameras, diagnostic equipment and lithography equipment. The Company operates through four segments: printing business unit, imaging business unit, medical business unit and industrial and other business unit.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Canon right now?
Before you consider Canon, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Canon wasn’t on the list.
Although Canon currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here