Wall Street brokerages expect NN, Inc. (NASDAQ:NNBR) to post $0.30 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have issued estimates for NN’s earnings, with estimates ranging from $0.26 to $0.32. NN reported earnings per share of $0.35 in the same quarter last year, which suggests a negative year-over-year growth rate of 14.3%. The company is scheduled to issue its next earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that NN will report full year earnings of $1.56 per share for the current financial year, with EPS estimates ranging from $1.48 to $1.60. For the next year, analysts anticipate that the firm will post earnings of $1.74 per share, with EPS estimates ranging from $1.68 to $1.80. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for NN.
NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $148.16 million during the quarter, compared to the consensus estimate of $150.50 million. NN had a negative net margin of 1.76% and a positive return on equity of 12.72%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share.
Several research analysts have recently issued reports on NNBR shares. KeyCorp reiterated a “buy” rating and set a $36.00 price target on shares of NN in a report on Friday, October 20th. Zacks Investment Research upgraded shares of NN from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. BidaskClub upgraded shares of NN from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, ValuEngine downgraded shares of NN from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $34.00.
In related news, insider Thomas C. Jr. Burwell sold 2,000 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $32.00, for a total value of $64,000.00. Following the sale, the insider now owns 35,381 shares of the company’s stock, valued at $1,132,192. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David Floyd acquired 1,865 shares of NN stock in a transaction that occurred on Friday, December 1st. The stock was acquired at an average cost of $26.98 per share, for a total transaction of $50,317.70. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake 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 worth $67,276,000 after purchasing an additional 12,964 shares during the last quarter. Jennison Associates LLC grew its stake in shares of NN by 8.8% in the third quarter. Jennison Associates LLC now owns 2,222,746 shares of the industrial products company’s stock worth $64,460,000 after purchasing an additional 179,578 shares during the last quarter. Royal Bank of Canada grew its stake in shares of NN by 3.2% in the second quarter. Royal Bank of Canada now owns 2,211,167 shares of the industrial products company’s stock worth $60,698,000 after purchasing an additional 69,123 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of NN by 5.0% in the second quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock worth $31,171,000 after purchasing an additional 53,688 shares during the last quarter. Finally, Elk Creek Partners LLC grew its stake in shares of NN by 48.6% in the third quarter. Elk Creek Partners LLC now owns 507,602 shares of the industrial products company’s stock worth $14,720,000 after purchasing an additional 166,092 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors.
Shares of NN (NASDAQ:NNBR) traded down $0.45 during trading hours on Wednesday, hitting $28.00. 156,087 shares of the stock traded hands, compared to its average volume of 99,492. The firm has a market capitalization of $772.06, a P/E ratio of -30.77 and a beta of 0.64. The company has a quick ratio of 2.72, a current ratio of 3.16 and a debt-to-equity ratio of 1.80. NN has a 52 week low of $17.70 and a 52 week high of $32.90.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.00%. NN’s dividend payout ratio (DPR) is presently -30.77%.
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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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