Equities analysts forecast that NN, Inc. (NASDAQ:NNBR) will post sales of $206.53 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for NN’s earnings, with the highest sales estimate coming in at $209.52 million and the lowest estimate coming in at $202.97 million. NN reported sales of $148.16 million during the same quarter last year, which indicates a positive year over year growth rate of 39.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 7th.
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 forecast that the company will post 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 sell-side research firms that cover NN.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Thursday, August 9th. The industrial products company reported $0.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.38. The firm had revenue of $196.30 million during the quarter, compared to analysts’ expectations of $197.21 million. NN had a return on equity of 7.53% and a net margin of 3.05%. NN’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS.
NNBR has been the subject of a number of analyst reports. SunTrust Banks restated a “buy” rating and issued a $33.00 price target on shares of NN in a report on Sunday. BidaskClub upgraded NN from a “sell” rating to a “hold” rating in a research note on Wednesday, June 13th. Zacks Investment Research upgraded NN from a “sell” rating to a “hold” rating and set a $26.00 target price for the company in a research note on Tuesday, May 15th. ValuEngine upgraded NN from a “sell” rating to a “hold” rating in a research note on Saturday, May 12th. Finally, KeyCorp reduced their target price on NN from $36.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.75.
Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in NN by 0.9% during the second quarter. Jennison Associates LLC now owns 2,201,181 shares of the industrial products company’s stock worth $41,602,000 after purchasing an additional 19,728 shares during the last quarter. BlackRock Inc. lifted its stake in NN by 8.2% during the second quarter. BlackRock Inc. now owns 1,962,418 shares of the industrial products company’s stock worth $37,087,000 after purchasing an additional 148,478 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in NN by 17.3% during the first quarter. Nuveen Asset Management LLC now owns 1,420,015 shares of the industrial products company’s stock worth $34,080,000 after purchasing an additional 209,232 shares during the last quarter. Royce & Associates LP lifted its stake in NN by 15.4% during the second quarter. Royce & Associates LP now owns 1,306,149 shares of the industrial products company’s stock worth $24,686,000 after purchasing an additional 174,756 shares during the last quarter. Finally, Private Management Group Inc. lifted its stake in NN by 4.5% during the second quarter. Private Management Group Inc. now owns 740,300 shares of the industrial products company’s stock worth $13,992,000 after purchasing an additional 32,161 shares during the last quarter. Institutional investors own 98.74% of the company’s stock.
NASDAQ NNBR traded down $0.35 on Tuesday, reaching $19.70. The company had a trading volume of 261,406 shares, compared to its average volume of 194,416. The stock has a market cap of $554.71 million, a PE ratio of 12.71 and a beta of 1.02. NN has a 1 year low of $18.05 and a 1 year high of $32.90. The company has a quick ratio of 3.02, a current ratio of 3.77 and a debt-to-equity ratio of 1.62.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Monday, September 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Thursday, August 30th. NN’s dividend payout ratio (DPR) is currently 18.06%.
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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