Nikon Corp (NASDAQ:NINOY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “Nikon’s earnings for second-quarter fiscal 2018 declined significantly year over year, dragged by top-line weakness. Prolonged softness the Semiconductor Lithography business as well as poor performance from Imaging Products Business and Precision Equipment Business remain headwinds. Moreover, high R&D expenditure, restructuring costs and investments related to the medical business, are escalating the company’s operational costs, thus putting pressure on margins. Over the past year, Nikon’s shares have underperformed the industry’s average. Also, going forward slow imaging sales and foreign currency headwinds are likely to thwart growth. However, Nikon is undertaking a number of initiatives on stabilizing the key financials of its core business areas — including Precision Equipment and Imaging Products — to drive growth.”
Shares of Nikon Corp (NINOY) traded up $0.02 during mid-day trading on Thursday, reaching $20.51. 1,840 shares of the company’s stock traded hands, compared to its average volume of 4,986. Nikon Corp has a 1 year low of $13.94 and a 1 year high of $20.53.
About Nikon Corp
NIKON CORPORATION is mainly engaged in the manufacture and sale of image and video equipment. The Company operates in three business segments. The Precision Equipment segment offers semiconductor exposure apparatus and flat panel display (FPD) exposure apparatus products and services. The Video segment provides video related and its peripheral area products and services, such as interchangeable lens type digital cameras, compact digital cameras and interchangeable lenses.
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