FY2022 EPS Estimates for Canon Inc. Boosted by Analyst (NYSE:CAJ)

Canon Inc. (NYSE:CAJGet Rating) – Investment analysts at Jefferies Financial Group raised their FY2022 earnings estimates for Canon in a research note issued to investors on Monday, May 9th. Jefferies Financial Group analyst M. Nakanomyo now expects that the technology company will post earnings per share of $2.26 for the year, up from their prior estimate of $2.06.

Several other equities analysts have also commented on the company. StockNews.com lowered Canon from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 28th. Zacks Investment Research lowered Canon from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th.

Shares of Canon stock opened at $24.01 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.13 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $25.54 billion, a P/E ratio of 13.34, a P/E/G ratio of 11.62 and a beta of 0.38. The business has a fifty day simple moving average of $23.63 and a two-hundred day simple moving average of $23.67. Canon has a 12 month low of $21.00 and a 12 month high of $25.48.

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP raised its position in shares of Canon by 1.2% in the 4th quarter. First Trust Advisors LP now owns 2,457,438 shares of the technology company’s stock worth $60,035,000 after purchasing an additional 28,291 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Canon by 6.2% in the 3rd quarter. Renaissance Technologies LLC now owns 1,437,307 shares of the technology company’s stock worth $35,042,000 after purchasing an additional 83,300 shares during the last quarter. Clark Capital Management Group Inc. bought a new stake in Canon in the 3rd quarter worth about $32,723,000. Goldman Sachs Group Inc. increased its holdings in Canon by 21.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,143,193 shares of the technology company’s stock worth $27,929,000 after buying an additional 203,653 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Canon by 5.1% in the 3rd quarter. BlackRock Inc. now owns 881,080 shares of the technology company’s stock worth $21,481,000 after buying an additional 42,633 shares in the last quarter.

About Canon (Get Rating)

Canon Inc, together with its subsidiaries, manufactures and sells office multifunction devices (MFDs), plain paper copying machines, 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 Others Business Unit.

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Earnings History and Estimates for Canon (NYSE:CAJ)

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