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

Shares of Nikon Corp. (OTCMKTS:NINOY) gapped up before the market opened on Monday . The stock had previously closed at $10.70, but opened at $11.74. Nikon shares last traded at $11.74, with a volume of 1 shares trading hands.

Wall Street Analysts Forecast Growth

NINOY has been the subject of a number of research reports. Zacks Research cut shares of Nikon from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Jefferies Financial Group downgraded 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 and one has issued a Sell rating to the stock. According to MarketBeat.com, Nikon currently has a consensus rating of “Reduce”.

Nikon Stock Up 1.4%

The business’s 50 day simple moving average is $11.82 and its 200 day simple moving average is $10.67. The company has a market capitalization of $3.77 billion, a PE ratio of 43.46 and a beta of 0.49. The company has a quick ratio of 0.97, a current ratio of 1.98 and a debt-to-equity ratio of 0.21.

Nikon (OTCMKTS:NINOY) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.15). The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.03 billion. Nikon had a net margin of 1.85% and a return on equity of 1.99%. As a group, 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.