Nidec (OTCMKTS:NJDCY) Shares Gap Down After Earnings Miss

Nidec Corp. (OTCMKTS:NJDCY) shares gapped down prior to trading on Monday following a weaker than expected earnings announcement. The stock had previously closed at $3.40, but opened at $1.90. Nidec shares last traded at $2.09, with a volume of 5,657 shares changing hands.

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 return on equity of 9.18% and a net margin of 6.06%.The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.29 billion.

Analysts Set New Price Targets

NJDCY has been the topic of a number of research reports. Wall Street Zen upgraded Nidec from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 23rd. Zacks Research upgraded Nidec from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, Macquarie downgraded Nidec from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Nidec currently has a consensus rating of “Hold”.

Nidec Price Performance

The stock has a fifty day simple moving average of $3.95 and a 200-day simple moving average of $4.55. The company has a market capitalization of $20.61 billion, a PE ratio of 9.39 and a beta of 1.14. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22.

Nidec Company Profile

Nidec Corporation, together with its subsidiaries, develops, manufactures, and sells motors, electronics and optical components, and other related products in Japan and internationally. The company offers medium- and large-size motors, small-size and precision motors, motor-related products, units and modules, automotive components, mechanical equipment/machine tools, inspection and measuring equipment, electronic devices, sensors, and other products, as well as mold, molding, cutting, and machining components.