NN (NNBR) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS
NN (NASDAQ:NNBR) issued its quarterly earnings data on Tuesday. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.03, American Banking News reports. The company had revenue of $106.68 million for the quarter, compared to the consensus estimate of $107.57 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis.
Shares of NN (NASDAQ:NNBR) traded down 3.62% during mid-day trading on Tuesday, hitting $28.06. 57,867 shares of the company’s stock traded hands. NN has a 1-year low of $11.64 and a 1-year high of $30.94. The stock has a 50-day moving average of $26.29 and a 200-day moving average of $21.96. The company has a market cap of $498.0 million and a price-to-earnings ratio of 26.00.
A number of analysts have recently weighed in on NNBR shares. Analysts at Singular Research raised their price target on shares of NN from $27.00 to $37.00 in a research note on Friday, July 25th. They now have a “buy” rating on the stock. On a related note, analysts at KeyCorp raised their price target on shares of NN from $28.00 to $39.00 in a research note on Tuesday, July 22nd. They now have a “buy” rating on the stock. Finally, analysts at Zacks downgraded shares of NN from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 8th. They now have a $28.50 price target on the stock.
NN, Inc (NASDAQ:NNBR) is a manufacturer of precision balls, cylindrical and tapered rollers, bearing retainers, plastic injection molded products, precision bearing seals and precision metal components.
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