Canon (CAJ) to Report Q3 Earnings: What's in the Cards?
Canon CAJ is set to report third-quarter 2021 results on Oct 26.
The Zacks Consensus Estimate for third-quarter earnings has increased 10.5% to 42 cents per share over the past 30 days, suggesting 180% growth from the figure reported in the year-ago quarter.
The consensus mark for revenues is pegged at $8.07 billion, indicating an increase of 12.8% from the year-ago quarter’s reported figure.
Notably, the company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing the same in one, the earnings surprise being 241.4%, on average.
Canon is expected to have benefited from improved sales of cameras and inkjet printers in the to-be-reported quarter despite semiconductor shortage and supply constraints.
Canon, Inc. Price and EPS Surprise
Canon, Inc. price-eps-surprise | Canon, Inc. Quote
Recovery in demand for printers is expected to have benefited Canon in the third quarter.
Moreover, continued strong demand for capital investment is expected to have driven the company’s semiconductor lithography equipment business in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Canon has an Earnings ESP of +6.02% and a Zacks Rank #1. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are a few other companies worth considering as our model shows that these too have the right combination of elements to beat on earnings in their upcoming releases:
Alphabet GOOGL has an Earnings ESP of +7.71% and is Zacks #2 Ranked. You can see the complete list of today’s Zacks #1 Rank stocks here.
CACI International CACI has an Earnings ESP of +4.43% and carries a Zacks Rank of 2, at present.
Amphenol APH has an Earnings ESP of +1.02% and a Zacks Rank #2.
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Canon, Inc. (CAJ) : Free Stock Analysis Report
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