Brokerages expect NN, Inc. (NASDAQ:NNBR) to report sales of $197.93 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for NN’s earnings, with estimates ranging from $195.20 million to $199.33 million. NN posted sales of $225.88 million during the same quarter last year, which would indicate a negative year over year growth rate of 12.4%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that NN will report full year sales of $783.85 million for the current year, with estimates ranging from $775.60 million to $788.47 million. For the next year, analysts expect that the business will report sales of $858.01 million per share, with estimates ranging from $857.31 million to $858.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover NN.
NN (NASDAQ:NNBR) last posted its earnings results on Thursday, May 10th. The industrial products company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.01). NN had a net margin of 3.35% and a return on equity of 9.02%. The company had revenue of $169.15 million during the quarter, compared to analyst estimates of $167.81 million. During the same period in the previous year, the company earned $0.47 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year.
Several brokerages have recently issued reports on NNBR. Zacks Investment Research cut shares of NN from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. ValuEngine upgraded shares of NN from a “sell” rating to a “hold” rating in a research note on Saturday, May 12th. BidaskClub upgraded NN from a “sell” rating to a “hold” rating in a research report on Wednesday, June 13th. Finally, Stifel Nicolaus dropped their price objective on NN from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, March 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. NN currently has a consensus rating of “Hold” and a consensus target price of $30.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNBR. BlackRock Inc. lifted its position in NN by 1.4% during the 4th quarter. BlackRock Inc. now owns 1,816,823 shares of the industrial products company’s stock worth $50,144,000 after acquiring an additional 24,497 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of NN by 17.3% in the 1st quarter. Nuveen Asset Management LLC now owns 1,420,015 shares of the industrial products company’s stock valued at $34,080,000 after acquiring an additional 209,232 shares during the last quarter. Elk Creek Partners LLC grew its stake in NN by 12.7% during the 1st quarter. Elk Creek Partners LLC now owns 567,249 shares of the industrial products company’s stock worth $13,614,000 after buying an additional 63,780 shares during the last quarter. Wells Fargo & Company MN grew its stake in NN by 1,725.7% during the 1st quarter. Wells Fargo & Company MN now owns 391,329 shares of the industrial products company’s stock worth $9,391,000 after buying an additional 369,895 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in NN by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 238,818 shares of the industrial products company’s stock worth $6,591,000 after buying an additional 3,622 shares during the last quarter. 97.39% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ NNBR traded up $0.22 during trading hours on Monday, reaching $18.52. The company had a trading volume of 2,900 shares, compared to its average volume of 184,181. NN has a 1-year low of $18.05 and a 1-year high of $32.90. The company has a debt-to-equity ratio of 1.62, a current ratio of 3.77 and a quick ratio of 3.02. The stock has a market capitalization of $506.30 million, a P/E ratio of 11.81 and a beta of 0.98.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Thursday, May 31st. NN’s dividend payout ratio is currently 18.06%.
NN Company Profile
NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.
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