Nikon (OTCMKTS:NINOY) Shares Gap Up - Should You Buy?

Key Points

• Nikon shares experienced a gap up opening at $12.74, following a previous close of $12.14, with the last traded price being $12.70.
• Jefferies Financial Group downgraded Nikon's rating from "strong-buy" to "hold", with the average analyst rating currently set at "hold".
• In its recent quarterly earnings report, Nikon surpassed EPS expectations with $0.20 compared to a consensus estimate of $0.05, although it reported revenue slightly below expectations at $1.07 billion.

Nikon Corp. (OTCMKTS:NINOY - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $12.14, but opened at $12.74. Nikon shares last traded at $12.70, with a volume of 298 shares.

Wall Street Analysts Forecast Growth

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, Nikon currently has an average rating of "Hold".

Nikon Price Performance

The company has a market cap of $4.08 billion, a P/E ratio of 47.04 and a beta of 0.52. The company has a fifty day simple moving average of $10.92 and a 200-day simple moving average of $10.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.98 and a quick ratio of 0.97.

Nikon (OTCMKTS:NINOY - Get Free Report) last posted its quarterly 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. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.10 billion. Nikon had a return on equity of 1.99% and a net margin of 1.85%. On average, sell-side analysts predict 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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