Nikon (OTCMKTS:NINOY) Shares Up 8.2% - Here's What Happened

Key Points

• Nikon's shares increased by 8.2% on Monday, reaching a trading price of $12.69, although trading volume was significantly lower than average.
• Jefferies Financial Group downgraded Nikon's stock from a "strong-buy" to a "hold" rating, contributing to an average rating of "Hold" from analysts.
• Nikon reported earnings of $0.20 per share for the last quarter, exceeding analysts' expectations, despite a slight revenue shortfall of $1.07 billion.

Shares of Nikon Corp. (OTCMKTS:NINOY - Get Free Report) were up 8.2% on Monday . The company traded as high as $12.69 and last traded at $12.69. Approximately 93 shares were traded during trading, a decline of 95% from the average daily volume of 1,890 shares. The stock had previously closed at $11.73.

Analyst Ratings Changes

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

Nikon Stock Up 4.9%

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.98 and a quick ratio of 0.97. The stock has a market capitalization of $4.10 billion, a PE ratio of 47.31 and a beta of 0.52. The company has a 50 day moving average price of $10.83 and a 200-day moving average price of $10.23.

Nikon (OTCMKTS:NINOY - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $1.10 billion. As a group, analysts forecast that Nikon Corp. will post 0.44 earnings per share for the current fiscal 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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