Nikon (OTCMKTS:NINOY) Shares Down 4.4% - Time to Sell?

Key Points

• Nikon Corp. experienced a significant stock drop of 4.4%, closing at $11.36 with trading volumes down 88% from average levels.
• Jefferies Financial Group has dropped Nikon's rating from "strong-buy" to "hold", reflecting cautiousness in investor sentiment.
• The company reported earnings of $0.20 per share, beating estimates, but its revenue of $1.07 billion fell short of analyst expectations.

Nikon Corp. (OTCMKTS:NINOY - Get Free Report)'s stock price dropped 4.4% on Monday . The stock traded as low as $11.36 and last traded at $11.36. Approximately 283 shares were traded during trading, a decline of 88% from the average daily volume of 2,341 shares. The stock had previously closed at $11.88.

Analysts Set New Price Targets

Separately, Jefferies Financial Group downgraded shares of Nikon from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Nikon Stock Performance

The company has a current ratio of 1.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. The firm's fifty day moving average is $10.69 and its 200 day moving average is $10.22. The company has a market cap of $3.79 billion, a PE ratio of 43.69 and a beta of 0.56.

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

Nikon Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.