Nikon (OTCMKTS:NINOY) Shares Gap Down - Here's What Happened

Key Points

• Nikon Corp. shares gapped down from $12.63 to $12.19 prior to trading on Friday, with a volume of just 22 shares traded.
• Jefferies Financial Group downgraded Nikon's rating from "strong-buy" to "hold", reflecting a conservative outlook on the stock.
• In its last quarterly earnings report, Nikon reported $0.20 EPS, surpassing the consensus estimate of $0.05 despite revenue falling short of analyst expectations.

Nikon Corp. (OTCMKTS:NINOY - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $12.63, but opened at $12.19. Nikon shares last traded at $12.19, with a volume of 22 shares.

Analysts Set New Price Targets

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

Nikon Trading Down 4.2%

The company has a 50 day simple moving average of $11.48 and a 200 day simple moving average of $10.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.97 and a current ratio of 1.98. The company has a market capitalization of $4.04 billion, a PE ratio of 46.54 and a beta of 0.52.

Nikon (OTCMKTS:NINOY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.05 by $0.15. Nikon had a return on equity of 1.99% and a net margin of 1.85%.The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.10 billion. Analysts anticipate that Nikon Corp. will post 0.44 earnings per share 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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