Nidec Co. (NJDCY) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Nidec Co. (NASDAQ:NJDCY) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $32.00 price target on the stock.

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) opened at 31.41 on Tuesday. Nidec has a 52 week low of $20.95 and a 52 week high of $31.41. The company has a market capitalization of $37.20 billion and a price-to-earnings ratio of 34.37. The company has a 50 day moving average of $28.29 and a 200 day moving average of $25.35.

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