• Canon’s operating income for the first quarter was 80.08 billion yen, which missed the estimated 90.01 billion yen.
• The company’s net income was 59.95 billion yen, lower than the expected 65.53 billion yen.
• Net sales for the first quarter were reported at 988.52 billion yen, falling short of the estimated 1.01 trillion yen.
• Canon is maintaining its year forecast, expecting an operating income of 435.00 billion yen – higher than the estimated 423.87 billion yen.
• It also still foresees a net income of 305.00 billion yen, slightly above the estimate of 300.09 billion yen.
• The company’s year forecast for net sales is still at 4.35 trillion yen, higher than the estimated 4.33 trillion yen.
• Dividend for the year is expected to be 150.00 yen, which is a tad lower than the estimated 151.25 yen.
• In terms of market consensus, Canon has received 4 buy ratings, 9 holds and 1 sell from different analysts.
• These comparisons are calculated based on the values originally disclosed by Canon.
Canon Inc on Smartkarma
Analyst coverage of Canon Inc on Smartkarma reveals insights from Travis Lundy, who recently published a bullish report titled “Canon (7751) – OK 2023 Results, Better Guidance, Bigger, Longer, Slower Buyback“. Lundy’s analysis highlights that Canon’s 2023 results were satisfactory but fell short of expectations at the net profit level. However, the 2024 guidance provided by the company surpasses consensus estimates. A notable development is Canon’s introduction of a long-term buyback program, a departure from its traditional short and sharp buyback strategy.
The report provides valuable information on Canon Inc‘s financial performance and strategic initiatives, shedding light on the company’s unique approach to shareholder returns. By offering a new buyback of ¥100bn spread over a year, Canon aims to enhance shareholder value despite the buyback amount representing only a small percentage of the average daily volume. Investors can glean important insights from this in-depth research conducted by Travis Lundy on Smartkarma.
A look at Canon Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Canon Inc, a renowned professional and consumer imaging solutions company known for its digital imaging technologies, has received favorable Smartkarma Smart Scores across multiple categories. Looking ahead, the company’s outlook appears promising, with high scores in Growth and Momentum indicating potential for expansion and positive market performance. Additionally, a strong score in the Dividend category highlights its commitment to rewarding shareholders, while solid scores in Value and Resilience suggest a stable foundation for long-term success.
With a diverse product portfolio that spans networked multifunction devices, cameras, computer peripherals, and more, Canon Inc is well-positioned to leverage its technological expertise in various sectors. The combination of strong growth potential, solid momentum, and a focus on shareholder returns may bode well for Canon Inc‘s future prospects as it continues to innovate and adapt within the competitive imaging solutions industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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