Canon Stock (CAJ) Downgraded AGAIN by JPMorgan Chase & Co.
 by Ethan Ryder
JPMorgan Chase & Co. cut shares of Canon (NYSE:CAJ) from an overweight rating to an underweight rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports.

Several other analysts have also recently commented on the stock. Analysts at BNP Paribas downgraded shares of Canon to a hold rating in a research note to investors on Wednesday, November 27th. Separately, analysts at Zacks upgraded shares of Canon from an underperform rating to a neutral rating in a research note to investors on Monday, October 14th. They now have a $32.70 price target on the stock. Finally, analysts at Zacks downgraded shares of Canon from a neutral rating to an underperform rating in a research note to investors on Wednesday, September 11th. They now have a $30.40 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Canon currently has a consensus rating of Hold and an average target price of $32.70.

Shares of Canon (NYSE:CAJ) opened at 32.56 on Tuesday. Canon has a 52 week low of $29.82 and a 52 week high of $40.94. The stock’s 50-day moving average is $32.13 and its 200-day moving average is $32.5. The company has a market cap of $37.021 billion and a P/E ratio of 12.98.

Canon (NYSE:CAJ) last announced its earnings results on Thursday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.13. Analysts expect that Canon will post $2.27 EPS for the current fiscal year.

Canon Inc (NYSE:CAJ), is a manufacturer of network digital multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and steppers.