Zacks Investment Research Downgrades Nidec Co. (NJDCY) to Hold

Nidec Co. (NASDAQ:NJDCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Nidec Corp and its subsidiaries are primarily engaged in the design, development, manufacturing and marketing of i) small precision motors, ii) mid-size motors, iii) machinery and power supplies, and iv) other products, which include auto parts, pivot assemblies, encoders and other services. Manufacturing operations are located primarily in Asia and they have sales subsidiaries in Asia, North America and Europe. “

Shares of Nidec (NASDAQ:NJDCY) opened at 30.67 on Wednesday. The firm has a market cap of $36.32 billion and a price-to-earnings ratio of 33.56. Nidec has a one year low of $20.95 and a one year high of $29.23. The stock has a 50 day moving average price of $28.29 and a 200 day moving average price of $25.35.

Nidec (NASDAQ:NJDCY) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.21 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.21. The firm had revenue of $3.09 billion for the quarter. Nidec had a return on equity of 10.73% and a net margin of 7.41%. On average, equities research analysts forecast that Nidec will post $0.79 EPS for the current year.

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About Nidec

Nidec Corporation is engaged in manufacturing of electric motors and related components and equipment. The Company focuses on providing brushless direct current (DC) motors for the information technology (IT) industry. The Company operates through nine segments: Nidec Corporation, Nidec Electronics (Thailand), Nidec Singapore, Nidec (H.K.), Nidec Sankyo, Nidec Copal, Nidec Techno Motor, Nidec Motor, and Nidec Motors & Actuators.

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