Zacks Investment Research upgraded shares of NIKON CORP/ADR (OTCMKTS:NINOY) from a sell rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports. The brokerage currently has $9.00 target price on the stock.
According to Zacks, “Nikon’s third-quarter fiscal 2020 results were disappointing. Revenues declined on a year-over-year basis due to weakness in Imaging Products, Precision Equipment and Industrial Metrology & Others businesses. Lower DSLR sales negatively impacted Imaging Products segment revenues. FPD Lithography revenues also fell on a year-over-year basis. However, Healthcare revenues increased in the reported quarter, driven by steady sales of retinal diagnostic imaging system. Nikon reiterated its fiscal 2020 guidance. The stock has underperformed the industry in the past year. However, Nikon benefits from solid high-end camera sales, driven by the launch of mirror-less products. Further, the company expects solid healthcare growth on the back of expanding footprint in bioscience and ophthalmic diagnosis spaces.”
Separately, Nomura cut NIKON CORP/ADR to a hold rating in a research note on Thursday, December 19th.
NIKON CORP/ADR (OTCMKTS:NINOY) last released its earnings results on Thursday, February 6th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). NIKON CORP/ADR had a net margin of 7.30% and a return on equity of 7.53%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. As a group, analysts predict that NIKON CORP/ADR will post 0.43 earnings per share for the current fiscal 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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