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

Key Points

• Nikon's shares gapped down from $12.40 to $11.67 prior to trading on Wednesday, indicating a shift in market sentiment.
• Jefferies Financial Group downgraded Nikon's rating from "strong-buy" to "hold", aligning with the average hold rating from analysts.
• The company's recent quarterly earnings report showed an EPS of $0.20, exceeding analysts' expectations, but revenue fell short of estimates at $1.07 billion.

Nikon Corp. (OTCMKTS:NINOY - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $12.40, but opened at $11.67. Nikon shares last traded at $11.67, with a volume of 65 shares changing hands.

Analysts Set New Price Targets

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

Nikon Trading Up 1.7%

The stock has a market capitalization of $4.21 billion, a P/E ratio of 48.50 and a beta of 0.57. 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's fifty day moving average price is $10.50 and its two-hundred day moving average price is $10.20.

Nikon (OTCMKTS:NINOY - Get Free Report) last posted its quarterly 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 analyst estimates of $1.10 billion. Nikon had a net margin of 1.85% and a return on equity of 1.99%. Equities research analysts forecast that Nikon Corp. will post 0.44 EPS 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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