Nikon (OTCMKTS:NINOY) Shares Gap Up – Here’s Why

Nikon Corp. (OTCMKTS:NINOY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $11.30, but opened at $12.08. Nikon shares last traded at $12.08, with a volume of 16 shares traded.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of Nikon from a “hold” rating to a “strong sell” rating in a report on Tuesday. Jefferies Financial Group downgraded shares of Nikon from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Nikon Price Performance

The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 46.46 and a beta of 0.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.97 and a current ratio of 1.98. The business has a fifty day moving average of $11.85 and a two-hundred day moving average of $10.59.

Nikon (OTCMKTS:NINOY) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.15). The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.03 billion. Nikon had a net margin of 1.85% and a return on equity of 1.99%. As a group, research analysts predict that Nikon Corp. will post 0.44 EPS 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.