Canon (OTCMKTS:CAJPY) Shares Gap Up - Time to Buy?

Key Points

• Canon shares gapped up at the open, rising from $27.63 to $28.96 and last trading at $28.06 on light volume (~4,085 shares).
• In the latest quarter Canon reported EPS of $0.82 and revenue of $8.58 billion, beating analysts' revenue estimate of $8.37 billion, with a net margin of 7.17% and ROE of 9.29%.
• The company has a market cap of $24.58 billion and a modest valuation (P/E ~11.5) alongside a strong balance sheet (debt-to-equity ~0.08); its 50- and 200-day simple moving averages ($29.02 and $29.36) sit slightly above the current price.

Canon, Inc. (OTCMKTS:CAJPY - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $27.63, but opened at $28.96. Canon shares last traded at $28.06, with a volume of 4,085 shares trading hands.

Canon Price Performance

The company has a 50 day simple moving average of $29.02 and a 200-day simple moving average of $29.36. The stock has a market cap of $24.58 billion, a price-to-earnings ratio of 11.46 and a beta of 0.63. The company has a quick ratio of 1.04, a current ratio of 1.54 and a debt-to-equity ratio of 0.08.

Canon (OTCMKTS:CAJPY - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.82 earnings per share (EPS) for the quarter. Canon had a return on equity of 9.29% and a net margin of 7.17%.The firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion.

About Canon

Canon Inc is a multinational corporation headquartered in Tokyo, Japan, renowned for its imaging and optical products. The company's core businesses encompass the design, manufacturing, and sale of a broad range of products, including digital cameras, interchangeable lenses, printers, scanners, photocopiers, and multifunction office equipment. Canon also offers medical, industrial, and semiconductor lithography systems, supporting sectors such as healthcare, manufacturing, and electronics.

Founded in 1937 as Precision Optical Instruments Laboratory, Canon initially focused on the development of Japan's first 35mm focal-plane-shutter camera.

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