$0.29 Earnings Per Share Expected for NN, Inc. (NNBR) This Quarter
Equities analysts predict that NN, Inc. (NASDAQ:NNBR) will post earnings per share (EPS) of $0.29 for the current quarter, according to Zacks. Four analysts have issued estimates for NN’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.30. NN posted earnings per share of $0.38 during the same quarter last year, which indicates a negative year over year growth rate of 23.7%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that NN will report full year earnings of $1.61 per share for the current financial year, with EPS estimates ranging from $1.57 to $1.65. For the next financial year, analysts expect that the business will post earnings of $1.78 per share, with EPS estimates ranging from $1.70 to $1.82. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for NN.
NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $221 million. NN had a positive return on equity of 14.45% and a negative net margin of 0.77%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share.
A number of research analysts have recently weighed in on the company. BidaskClub lowered NN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $29.00 price objective on shares of NN in a research report on Friday, August 4th. William Blair restated a “market perform” rating on shares of NN in a research report on Tuesday, July 11th. Zacks Investment Research lowered NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Finally, TheStreet upgraded NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. NN currently has a consensus rating of “Hold” and an average price target of $30.25.
Several hedge funds and other institutional investors have recently made changes to their positions in NNBR. D.A. Davidson & CO. acquired a new position in shares of NN during the second quarter worth approximately $139,000. Envestnet Asset Management Inc. increased its position in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after buying an additional 530 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of NN during the first quarter worth approximately $162,000. Highbridge Capital Management LLC acquired a new position in shares of NN during the fourth quarter worth approximately $220,000. Finally, US Bancorp DE increased its position in shares of 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. 92.15% of the stock is owned by hedge funds and other institutional investors.
Shares of NN (NNBR) traded down 1.15% during trading on Wednesday, hitting $25.90. The stock had a trading volume of 95,459 shares. The stock’s 50-day moving average price is $27.76 and its 200 day moving average price is $25.76. The firm’s market capitalization is $711.34 million. NN has a 1-year low of $13.43 and a 1-year high of $31.65.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, August 30th. NN’s payout ratio is -116.67%.
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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.
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