Canon closed at $23.21 in the latest trading session, marking a -0.47% move from the prior day. This change was narrower than the S&P 500's 0.72% loss on the day.
Heading into today, shares of the office machine company had gained 3.64% over the past month, outpacing the Computer and Technology sector's loss of 0.64% and the S&P 500's gain of 0.11% in that time.
Wall Street will be looking for positivity from Canon as it approaches its next earnings report date. The company is expected to report EPS of $0.42, down 14.29% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.26 billion, down 2.45% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.76 per share and revenue of $32.62 billion. These totals would mark changes of +131.58% and +8.48%, respectively, from last year.
Any recent changes to analyst estimates for Canon should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.19% higher within the past month. Canon is currently a Zacks Rank #3 (Hold).
In terms of valuation, Canon is currently trading at a Forward P/E ratio of 13.25. This represents a discount compared to its industry's average Forward P/E of 17.59.
We can also see that CAJ currently has a PEG ratio of 13.25. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Office Automation and Equipment industry currently had an average PEG ratio of 13.25 as of yesterday's close.
The Office Automation and Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Canon (CAJ) Stock Moves -0.47%: What You Should Know
Canon closed at $23.21 in the latest trading session, marking a -0.47% move from the prior day. This change was narrower than the S&P 500's 0.72% loss on the day.
Heading into today, shares of the office machine company had gained 3.64% over the past month, outpacing the Computer and Technology sector's loss of 0.64% and the S&P 500's gain of 0.11% in that time.
Wall Street will be looking for positivity from Canon as it approaches its next earnings report date. The company is expected to report EPS of $0.42, down 14.29% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.26 billion, down 2.45% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.76 per share and revenue of $32.62 billion. These totals would mark changes of +131.58% and +8.48%, respectively, from last year.
Any recent changes to analyst estimates for Canon should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.19% higher within the past month. Canon is currently a Zacks Rank #3 (Hold).
In terms of valuation, Canon is currently trading at a Forward P/E ratio of 13.25. This represents a discount compared to its industry's average Forward P/E of 17.59.
We can also see that CAJ currently has a PEG ratio of 13.25. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Office Automation and Equipment industry currently had an average PEG ratio of 13.25 as of yesterday's close.
The Office Automation and Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.