Zacks: Brokerages Anticipate NN, Inc. (NNBR) Will Announce Earnings of $0.29 Per Share

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.

COPYRIGHT VIOLATION NOTICE: This report was first reported by Week Herald and is the property of of Week Herald. If you are accessing this report on another publication, it was illegally stolen and republished in violation of US & international copyright and trademark legislation. The original version of this report can be accessed at https://weekherald.com/2017/08/19/zacks-brokerages-anticipate-nn-inc-nnbr-will-announce-earnings-of-0-29-per-share.html.

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.

Get a free copy of the Zacks research report on NN (NNBR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for NN (NASDAQ:NNBR)

Receive News & Ratings for NN Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NN Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply