$206.53 Million in Sales Expected for NN, Inc. (NNBR) This Quarter

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%.

About NN

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.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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


Leave a Reply