Nikon (OTCMKTS:NINOY) Shares Gap Down on Disappointing Earnings

Nikon Corp. (OTCMKTS:NINOY)’s share price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $11.76, but opened at $10.52. Nikon shares last traded at $12.83, with a volume of 275 shares traded.

The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.15). Nikon had a net margin of 1.85% and a return on equity of 1.99%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.03 billion.

Analysts Set New Price Targets

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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Nikon Stock Down 2.3%

The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 43.96 and a beta of 0.49. The stock has a fifty day moving average of $11.82 and a two-hundred day moving average of $10.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.98 and a quick ratio of 0.97.

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.