Ricoh (OTCMKTS:RICOY) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Ricoh (OTCMKTS:RICOY) from a strong-buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Ricoh Company, Ltd. manufactures and markets office automation equipment. The Company’s business segments are Imaging and Solutions, Industrial Products and Other. Ricoh’s products include copiers, facsimiles, image scanners, printers (MFPs, laser printers and GELJET printers), digital and advanced electronic devices, such as semiconductor devices. The company also provides digital cameras, industrial, medical, and office equipment leasing services, support loans to small businesses and independent medical doctors, and logistics services in the delivery, distribution, and storage of products, such as electronic products, office equipment, and electronic and machinery parts. Ricoh Company, Ltd. is headquartered in Tokyo, Japan. “

Shares of Ricoh stock opened at $10.01 on Wednesday. The firm has a market cap of $7.34 billion, a PE ratio of 16.15, a PEG ratio of 2.42 and a beta of 0.35. Ricoh has a 12 month low of $8.81 and a 12 month high of $11.11.

Ricoh (OTCMKTS:RICOY) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Ricoh had a net margin of 2.51% and a return on equity of 4.94%. As a group, analysts forecast that Ricoh will post 0.87 EPS for the current year.

About Ricoh

Ricoh Company, Ltd. provides various office and commercial printing solutions and related solutions worldwide. The company offers various office printing products, including multifunction printers, copying machines, wide machines, fax products, scanners, etc.; and commercial printing products comprising cut sheet production printers and continuous paper production printers; industrial printing products, which include inkjet heads, imaging systems, industrial printers, etc.; and related equipment, consumables, services, and software.

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