Zacks Investment Research Lowers NIKON CORP/ADR (OTCMKTS:NINOY) to Hold

Zacks Investment Research downgraded shares of NIKON CORP/ADR (OTCMKTS:NINOY) from a strong-buy rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $14.00 price objective on the stock.

According to Zacks, “Nikon’s first-quarter fiscal 2020 results were disappointing. Both earnings and revenues declined on a year-over-year basis due to weakness in Imaging Products and Precision Equipment businesses. However, semiconductor lithography business grew due to sales of new systems, including the ArF immersion systems. Although the stock has underperformed the industry on a year-to-date basis, we expect it to bounce back during the rest of fiscal 2020, as semiconductor capital spending recovers.  Moreover, Nikon benefits from solid high-end camera sales, driven by the launch of ML products. Further, solid healthcare growth is expected to be driven by expanding footprints at bioscience and the ophthalmic diagnosis spaces. Nikon reiterated its fiscal 2020 guidance based on these growth factors.”

Separately, ValuEngine raised shares of NIKON CORP/ADR from a strong sell rating to a sell rating in a report on Thursday, May 9th.

Shares of NINOY opened at $12.43 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.42. NIKON CORP/ADR has a 1 year low of $11.78 and a 1 year high of $19.74. The company has a 50 day simple moving average of $13.70 and a two-hundred day simple moving average of $14.20. The firm has a market cap of $4.93 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 12.12 and a beta of 0.44.

NIKON CORP/ADR (OTCMKTS:NINOY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. NIKON CORP/ADR had a net margin of 8.46% and a return on equity of 9.66%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.25 billion. On average, sell-side analysts anticipate that NIKON CORP/ADR will post 1 earnings per share for the current year.

About NIKON CORP/ADR

Nikon Corporation manufactures and sells optical instruments in Japan and internationally. It operates through three segments: Imaging Products Business, Precision Equipment Business, and Healthcare Business. The Imaging Products Business segment develops, manufacture, sells and service of digital cameras–interchangeable lens type, interchangeable lenses and compact digital cameras, and other products.

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