Zacks Investment Research cut shares of Nidec Co. (NASDAQ:NJDCY) from a buy rating to a hold rating in a research report released 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. “

Nidec (NASDAQ:NJDCY) traded down 0.88% during midday trading on Wednesday, reaching $30.40. The company had a trading volume of 13,866 shares. The firm has a 50-day moving average price of $28.29 and a 200-day moving average price of $25.35. The company has a market capitalization of $36.00 billion and a price-to-earnings ratio of 33.26. Nidec has a 52 week low of $20.95 and a 52 week high of $30.82.

Nidec (NASDAQ:NJDCY) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.21. Nidec had a return on equity of 10.73% and a net margin of 7.41%. The business had revenue of $3.09 billion during the quarter. Analysts expect that Nidec will post $0.79 EPS for the current fiscal year.

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Nidec Company Profile

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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