Nikon (OTCMKTS:NINOY) Shares Down 1.7% - Time to Sell?

Key Points

• Nikon shares fell by 1.7% during midday trading, marking a drop from the previous close of $12.35.
• Jefferies Financial Group downgraded Nikon from a "strong-buy" to a "hold" rating, with the current consensus rating also at "Hold."
• The company's latest earnings report showed an EPS of $0.20, surpassing estimates but slightly missing revenue expectations at $1.07 billion.

Nikon Corp. (OTCMKTS:NINOY - Get Free Report) shares dropped 1.7% during mid-day trading on Monday . The stock traded as low as $12.01 and last traded at $12.15. Approximately 30,062 shares were traded during trading, an increase of 1,109% from the average daily volume of 2,486 shares. The stock had previously closed at $12.35.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered Nikon from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".

Nikon Trading Down 1.7%

The firm has a market cap of $4.05 billion, a PE ratio of 46.71 and a beta of 0.52. The firm has a fifty day simple moving average of $11.31 and a two-hundred day simple moving average of $10.37. The company has a current ratio of 1.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21.

Nikon (OTCMKTS:NINOY - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.15. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. Nikon had a return on equity of 1.99% and a net margin of 1.85%. Equities analysts forecast that Nikon Corp. will post 0.44 EPS for the current year.

About Nikon

Nikon Corporation manufactures and sells optical instruments in Japan, North America, Europe, China, Thailand, and internationally. It operates through Imaging Products Business, Precision Equipment Business, Healthcare Business, Components Business, and Industrial equipment and Others segments. The Imaging Products Business segment provides digital SLR cameras, compact digital cameras, and interchangeable camera lenses.

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