$0.48 EPS Expected for NN, Inc. (NASDAQ:NNBR) This Quarter
Brokerages forecast that NN, Inc. (NASDAQ:NNBR) will post earnings of $0.48 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for NN’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.49. NN posted earnings of $0.46 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The firm is scheduled to report its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that NN will report full year earnings of $1.85 per share for the current year, with EPS estimates ranging from $1.80 to $1.90. For the next year, analysts forecast that the firm will report earnings of $2.17 per share, with EPS estimates ranging from $1.80 to $2.32. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for NN.
NN (NASDAQ:NNBR) last released its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. NN had a net margin of 2.00% and a return on equity of 14.04%. The business had revenue of $226.31 million during the quarter, compared to analysts’ expectations of $215.86 million.
Several research firms have weighed in on NNBR. Zacks Investment Research downgraded shares of NN from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. TheStreet raised shares of NN from a “c+” rating to a “b” rating in a research note on Monday, June 5th. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, SunTrust Banks, Inc. began coverage on shares of NN in a research note on Thursday, June 15th. They issued a “buy” rating and a $37.00 price target for the company. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. NN currently has a consensus rating of “Buy” and a consensus target price of $30.67.
Several large investors have recently bought and sold shares of NNBR. Nuveen Asset Management LLC increased its stake in NN by 31.2% in the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after buying an additional 279,795 shares during the last quarter. US Bancorp DE increased its stake in NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares during the last quarter. Teachers Advisors LLC increased its stake in NN by 13.5% in the fourth quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock valued at $899,000 after buying an additional 5,604 shares during the last quarter. Poplar Forest Capital LLC acquired a new stake in NN during the first quarter valued at approximately $880,000. Finally, Millrace Asset Group Inc. acquired a new stake in NN during the first quarter valued at approximately $1,890,000. 95.85% of the stock is owned by institutional investors.
NN (NNBR) opened at 27.45 on Wednesday. The company has a market cap of $753.91 million, a PE ratio of 45.00 and a beta of 0.63. The firm’s 50-day moving average price is $28.30 and its 200-day moving average price is $23.72. NN has a 12-month low of $12.77 and a 12-month high of $31.65.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Wednesday, May 31st. NN’s payout ratio is presently 45.90%.
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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