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

Nikon Corp. (OTCMKTS:NINOY) gapped down prior to trading on Thursday. The stock had previously closed at $11.70, but opened at $10.87. Nikon shares last traded at $11.1950, with a volume of 864 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Nikon to a “hold” rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Nikon presently has an average rating of “Hold”.

Nikon Stock Performance

The stock has a 50-day moving average price of $11.94 and a 200 day moving average price of $12.36. The company has a quick ratio of 0.92, a current ratio of 1.91 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -6.11 and a beta of 0.52.

Nikon (OTCMKTS:NINOY) last issued its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.06. Nikon had a negative net margin of 13.88% and a negative return on equity of 15.50%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1 billion. On average, analysts forecast that Nikon Corp. will post 0.61 EPS for the current year.

Nikon Company Profile

Nikon Corporation is a Japan-based optical and precision-equipment company whose roots date to 1917, when it was established as Nippon Kogaku Kogyo. The company is best known for its imaging products, including mirrorless and digital cameras, NIKKOR lenses, binoculars, rangefinders and other photographic equipment.

Nikon also develops precision technologies for industrial and scientific applications. Its businesses include semiconductor and flat-panel-display lithography systems, industrial and metrology equipment, microscopes, optical components and healthcare-related products and services.