Wall Street analysts expect that NN, Inc. (NASDAQ:NNBR) will announce sales of $169.15 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for NN’s earnings. The lowest sales estimate is $168.53 million and the highest is $169.70 million. NN reported sales of $226.31 million during the same quarter last year, which indicates a negative year over year growth rate of 25.3%. The company is expected to announce its next earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that NN will report full year sales of $169.15 million for the current financial year, with estimates ranging from $665.38 million to $684.40 million. For the next financial year, analysts expect that the business will post sales of $737.56 million per share, with estimates ranging from $727.00 million to $750.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for NN.
NN (NASDAQ:NNBR) last released its quarterly earnings data on Thursday, March 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $156.14 million for the quarter, compared to the consensus estimate of $154.67 million. NN had a return on equity of 11.94% and a net margin of 4.87%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 earnings per share.
NNBR has been the subject of several research reports. ValuEngine raised NN from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research raised NN from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, February 21st. BidaskClub raised NN from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Stifel Nicolaus reduced their price objective on NN from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, March 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $32.25.
NNBR opened at $22.50 on Friday. The firm has a market cap of $652.26, a PE ratio of 14.52 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.16 and a quick ratio of 2.72. NN has a fifty-two week low of $21.40 and a fifty-two week high of $32.90.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NNBR. Sei Investments Co. lifted its holdings in shares of NN by 52,592.6% in the third quarter. Sei Investments Co. now owns 14,227 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 14,200 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of NN by 34.6% in the third quarter. Russell Investments Group Ltd. now owns 44,373 shares of the industrial products company’s stock valued at $1,287,000 after purchasing an additional 11,398 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of NN by 42.6% in the third quarter. Wells Fargo & Company MN now owns 35,850 shares of the industrial products company’s stock valued at $1,040,000 after purchasing an additional 10,718 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NN by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,319,809 shares of the industrial products company’s stock valued at $67,276,000 after purchasing an additional 12,964 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of NN by 45.0% in the third quarter. Stifel Financial Corp now owns 14,500 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 4,500 shares in the last quarter. Institutional investors own 95.81% of the company’s stock.
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NN Company Profile
NN, Inc is a diversified industrial company and a global manufacturer of high precision components and assemblies to a range of markets on a global basis. The Company’s operating segments include: the Precision Engineered Products Group and the Autocam Precision Components Group. Precision Engineered Products Group combines materials science capability with engineering and production solutions to design and manufacture a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets.
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