Canon (OTCMKTS:CAJPY) Shares Gap Down – Time to Sell?

Canon, Inc. (OTCMKTS:CAJPY)’s stock price gapped down before the market opened on Tuesday. The stock had previously closed at $31.62, but opened at $30.35. Canon shares last traded at $29.7240, with a volume of 87,016 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research raised Canon from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company has an average rating of “Hold”.

Canon Stock Performance

The company has a quick ratio of 0.96, a current ratio of 1.46 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $29.34 and a two-hundred day moving average price of $28.38. The stock has a market cap of $25.81 billion, a P/E ratio of 11.56 and a beta of 0.54.

Canon (OTCMKTS:CAJPY) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $0.56 EPS for the quarter. Canon had a return on equity of 9.41% and a net margin of 7.36%. On average, sell-side analysts forecast that Canon, Inc. will post 2.50 earnings per share for the current fiscal year.

About Canon

Canon Inc is a Japan-based imaging and technology company that develops and sells products and solutions for consumers, businesses and professional users. Its offerings include digital cameras, interchangeable lenses, network cameras, inkjet and laser printers, scanners, projectors and related software and services.

The company also operates in medical and industrial technology. Its medical business provides diagnostic imaging systems, including computed tomography, magnetic resonance imaging, ultrasound and digital radiography equipment.