Canon Inc (NYSE:CAJ) – Investment analysts at Jefferies Financial Group reduced their FY2019 earnings estimates for shares of Canon in a note issued to investors on Tuesday, January 15th, Zacks Investment Research reports. Jefferies Financial Group analyst M. Nakanomyo now expects that the technology company will post earnings per share of $1.76 for the year, down from their previous forecast of $2.16. Jefferies Financial Group also issued estimates for Canon’s FY2020 earnings at $1.89 EPS.
A number of other equities analysts also recently issued reports on CAJ. Zacks Investment Research downgraded shares of Canon from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. ValuEngine raised shares of Canon from a “sell” rating to a “hold” rating in a research note on Wednesday, December 12th.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Advisors Inc. grew its holdings in Canon by 54.0% in the fourth quarter. Cornerstone Advisors Inc. now owns 1,070 shares of the technology company’s stock worth $30,000 after purchasing an additional 375 shares during the period. Lindbrook Capital LLC purchased a new stake in Canon in the fourth quarter worth about $59,000. Moody National Bank Trust Division purchased a new stake in Canon in the third quarter worth about $110,000. LPL Financial LLC purchased a new stake in Canon in the third quarter worth about $215,000. Finally, Rhumbline Advisers purchased a new stake in Canon in the third quarter worth about $229,000. Institutional investors and hedge funds own 1.35% of the company’s stock.
Canon Company Profile
Canon Inc manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, diagnostic equipment, and lithography equipment. The company operates in four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.
Recommended Story: Trading signals using Bollinger bands
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Canon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canon and related companies with MarketBeat.com's FREE daily email newsletter.