Equities research analysts expect NN, Inc. (NASDAQ:NNBR) to report earnings of $0.29 per share for the current quarter, Zacks reports. Four analysts have provided estimates for NN’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.27. NN posted earnings per share of $0.38 during the same quarter last year, which would suggest a negative year-over-year growth rate of 23.7%. The company is scheduled to issue its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that NN will report full year earnings of $1.62 per share for the current financial year, with EPS estimates ranging from $1.57 to $1.65. For the next year, analysts anticipate that the firm will report earnings of $1.78 per share, with EPS estimates ranging from $1.70 to $1.82. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover NN.
NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The company had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis.
A number of research analysts have recently commented on the stock. Zacks Investment Research lowered shares of NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. BidaskClub lowered shares of NN from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. TheStreet raised shares of NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. William Blair reaffirmed a “market perform” rating on shares of NN in a research report on Thursday. Finally, SunTrust Banks, Inc. assumed coverage on shares of NN in a research report on Thursday, June 15th. They set a “buy” rating and a $37.00 price objective for the company. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. NN presently has an average rating of “Hold” and an average target price of $30.25.
Shares of NN (NASDAQ:NNBR) traded down 1.55% during mid-day trading on Wednesday, hitting $25.45. The stock had a trading volume of 166,023 shares. The firm’s 50 day moving average price is $27.59 and its 200-day moving average price is $25.81. The company’s market cap is $700.89 million. NN has a one year low of $13.43 and a one year high of $31.65.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, August 30th. NN’s dividend payout ratio (DPR) is presently -116.67%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. acquired a new position in NN during the second quarter valued at about $139,000. Envestnet Asset Management Inc. raised its position in NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the period. Bank of Montreal Can acquired a new position in NN during the first quarter valued at about $162,000. Highbridge Capital Management LLC acquired a new position in NN during the fourth quarter valued at about $220,000. Finally, US Bancorp DE raised its position in NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.
NN Company Profile
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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