Nikon (OTCMKTS:NINOY) Shares Gap Up - Still a Buy?

Key Points

• Nikon's stock price experienced a significant increase, opening at $12.80 compared to a previous closing price of $12.19.
• Jefferies Financial Group downgraded Nikon's rating from "strong-buy" to "hold", reflecting a cautious outlook among analysts.
• The company reported earnings of $0.20 EPS for the last quarter, surpassing analysts' expectations, but fell short on revenue with $1.07 billion against a forecast of $1.10 billion.

Nikon Corp. (OTCMKTS:NINOY - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $12.19, but opened at $12.80. Nikon shares last traded at $12.57, with a volume of 3,014 shares changing hands.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered 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, According to data from MarketBeat.com, Nikon currently has an average rating of "Hold".

Nikon Stock Performance

The firm has a market cap of $4.24 billion, a P/E ratio of 48.92 and a beta of 0.56. The company has a quick ratio of 0.97, a current ratio of 1.98 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average of $10.39 and a 200-day moving average of $10.17.

Nikon (OTCMKTS:NINOY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.15. The company had revenue of $1.07 billion for 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%. Research analysts predict that Nikon Corp. will post 0.44 earnings per share 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.