Nidec (OTCMKTS:NJDCY) Stock Price Down 11.7% – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY)’s stock price was down 11.7% during trading on Friday . The company traded as low as $3.03 and last traded at $3.10. Approximately 33,755 shares traded hands during trading, a decline of 32% from the average daily volume of 49,559 shares. The stock had previously closed at $3.51.

Analyst Upgrades and Downgrades

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

Nidec Trading Up 2.8%

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.26. The stock has a market cap of $34.44 billion, a P/E ratio of 13.89 and a beta of 0.97. The business’s fifty day simple moving average is $3.26 and its 200 day simple moving average is $3.96.

Nidec (OTCMKTS:NJDCY) last issued its quarterly earnings results on Friday, November 14th. The industrial goods maker reported $0.06 earnings per share (EPS) 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 firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.29 billion. As a group, analysts expect that Nidec Corp. will post 0.25 EPS for the current year.

About Nidec

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.