Nikon (OTCMKTS:NINOY) Shares Gap Down - Should You Sell?

Key Points

• Nikon's stock price gapped down from $12.36 to $12.01 ahead of Thursday's trading, with only 1 share traded at the opening.
• Jefferies Financial Group has dropped Nikon's rating from "strong-buy" to "hold," reflecting a cautious outlook among analysts.
• Despite a recent earnings report beating expectations with $0.20 EPS, revenues fell short of forecasts at $1.07 billion compared to anticipated $1.10 billion.

Nikon Corp. (OTCMKTS:NINOY - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $12.36, but opened at $12.01. Nikon shares last traded at $12.01, with a volume of 1 shares traded.

Analysts Set New Price Targets

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

Nikon Stock Up 1.7%

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 stock has a 50 day simple moving average of $10.97 and a 200 day simple moving average of $10.27. The firm has a market capitalization of $4.19 billion, a PE ratio of 48.35 and a beta of 0.52.

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

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