William Blair Equities Analysts Raise Earnings Estimates for NN, Inc. (NNBR)
NN, Inc. (NASDAQ:NNBR) – Investment analysts at William Blair upped their Q2 2017 earnings estimates for NN in a report released on Tuesday. William Blair analyst N. Heymann now forecasts that the industrial products company will post earnings of $0.49 per share for the quarter, up from their prior forecast of $0.48. William Blair currently has a “Market Perform” rating on the stock.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of NN from a “hold” rating to a “sell” rating in a research report on Wednesday. TheStreet upgraded shares of NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. SunTrust Banks, Inc. began coverage on shares of NN in a research report on Thursday, June 15th. They set a “buy” rating and a $37.00 target price for the company. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $30.67.
COPYRIGHT VIOLATION NOTICE: This piece of content was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/07/13/william-blair-equities-analysts-raise-earnings-estimates-for-nn-inc-nnbr.html.
Shares of NN (NNBR) opened at 29.20 on Thursday. The stock has a market cap of $801.98 million, a PE ratio of 47.87 and a beta of 0.63. The company’s 50-day moving average is $28.30 and its 200 day moving average is $23.72. NN has a 52 week low of $13.43 and a 52 week high of $31.65.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $226.31 million during the quarter, compared to analysts’ expectations of $215.86 million.
The business also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $0.28 dividend on an annualized basis and a yield of 0.96%. NN’s payout ratio is 45.90%.
Large investors have recently added to or reduced their stakes in the stock. 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 worth $265,000 after buying an additional 457 shares during the last quarter. LSV Asset Management increased its stake in NN by 124.8% in the first quarter. LSV Asset Management now owns 113,102 shares of the industrial products company’s stock worth $2,850,000 after buying an additional 62,800 shares during the last quarter. Wells Fargo & Company MN increased its stake in NN by 0.7% in the first quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock worth $635,000 after buying an additional 176 shares during the last quarter. First Manhattan Co. increased its stake in NN by 0.5% in the first quarter. First Manhattan Co. now owns 209,600 shares of the industrial products company’s stock worth $3,825,000 after buying an additional 950 shares during the last quarter. Finally, Skylands Capital LLC increased its stake in NN by 4.5% in the first quarter. Skylands Capital LLC now owns 407,436 shares of the industrial products company’s stock worth $10,267,000 after buying an additional 17,536 shares during the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.
NN Company Profile
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.
Receive News & Ratings for NN Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NN Inc. and related companies with MarketBeat.com's FREE daily email newsletter.