NN (NASDAQ:NNBR – Get Free Report) announced its quarterly earnings results on Wednesday. The industrial products company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05, Zacks reports. NN had a positive return on equity of 43.10% and a negative net margin of 5.43%. The business had revenue of $131.10 million during the quarter, compared to analysts’ expectations of $118.10 million.
NN Stock Down 6.4%
NNBR stock traded down $0.26 during trading on Friday, reaching $3.71. The stock had a trading volume of 340,766 shares, compared to its average volume of 1,977,526. NN has a one year low of $1.10 and a one year high of $4.79. The company’s 50 day moving average is $3.63 and its two-hundred day moving average is $2.70. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 7.70. The company has a market capitalization of $347.31 million, a price-to-earnings ratio of -4.31 and a beta of 2.65.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on NNBR shares. Lake Street Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of NN in a report on Friday, August 7th. Craig Hallum initiated coverage on shares of NN in a report on Monday, July 20th. They issued a “buy” rating and a $7.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research report on Thursday, October 15th. Wall Street Zen upgraded shares of NN from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Finally, Zacks Research upgraded NN from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.67.
View Our Latest Research Report on NNBR
About NN
NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, electrical, industrial, aerospace, and medical markets. Its products are designed for applications that require precision, durability, and consistent performance.
The company’s manufacturing capabilities have included precision machining, metal forming, plastic injection molding, and the production of complex assemblies. NN, Inc has supplied components used in systems such as automotive powertrains, electrical and industrial equipment, medical devices, and other specialized products.
Founded in 1980 as NN Ball & Roller, the company expanded beyond its original bearing-component operations through acquisitions and later adopted the NN, Inc name.
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