Nidec (OTCMKTS:NJDCY) Shares Gap Down – Here’s Why

Nidec Corp. (OTCMKTS:NJDCY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $3.36, but opened at $3.01. Nidec shares last traded at $3.24, with a volume of 9,527 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Macquarie downgraded shares of Nidec from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Nidec Trading Up 2.1%

The firm’s 50-day simple moving average is $3.21 and its 200-day simple moving average is $4.04. The firm has a market capitalization of $32.06 billion, a P/E ratio of 12.92 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nidec (OTCMKTS:NJDCY) last posted its quarterly earnings data on Friday, November 14th. The industrial goods maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Nidec had a net margin of 6.82% and a return on equity of 10.15%. The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Analysts anticipate that Nidec Corp. will post 0.25 EPS for the current year.

Nidec Company Profile

Nidec Corporation is a global manufacturer of electric motors and related systems, supplying components and finished products for a wide range of industries. The company is best known for its precision small motors used in computer hard-disk drives and other compact applications, and it has broadened its product portfolio to include motors, drives, controllers and mechatronic systems for consumer appliances, office automation, industrial equipment and automotive applications.

Its product range encompasses brushless DC motors, induction motors, servo systems, power electronics and complete motor-driven systems designed for energy efficiency and high performance.