NN, Inc. (NNBR) Expected to Post Quarterly Sales of $151.03 Million
Wall Street analysts forecast that NN, Inc. (NASDAQ:NNBR) will report $151.03 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for NN’s earnings, with the highest sales estimate coming in at $151.60 million and the lowest estimate coming in at $150.69 million. NN posted sales of $204.96 million during the same quarter last year, which would indicate a negative year over year growth rate of 26.3%. The firm is expected to report its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that NN will report full-year sales of $151.03 million for the current year, with estimates ranging from $750.58 million to $754.96 million. For the next financial year, analysts expect that the firm will report sales of $657.47 million per share, with estimates ranging from $645.80 million to $676.02 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for NN.
NN (NASDAQ:NNBR) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The firm had revenue of $225.88 million for the quarter, compared to the consensus estimate of $221 million. During the same period in the prior year, the firm earned $0.46 EPS. The firm’s revenue was up 5.4% on a year-over-year basis.
NNBR has been the subject of several recent analyst reports. Zacks Investment Research cut shares of NN from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price objective on shares of NN in a research report on Friday, August 4th. William Blair reissued a “market perform” rating on shares of NN in a research report on Tuesday, July 11th. BidaskClub cut shares of NN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. NN currently has an average rating of “Hold” and a consensus target price of $30.25.
NN (NASDAQ NNBR) opened at 25.85 on Friday. NN has a 52-week low of $13.43 and a 52-week high of $31.65. The company has a 50 day moving average price of $27.65 and a 200 day moving average price of $25.76. The firm’s market capitalization is $711.91 million.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.08%. NN’s dividend payout ratio (DPR) is presently -116.67%.
A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in shares of NN by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 21,090 shares of the industrial products company’s stock worth $579,000 after buying an additional 126 shares during the period. Wells Fargo & Company MN boosted its stake in shares of 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 period. US Bancorp DE boosted its stake 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 period. Envestnet Asset Management Inc. boosted its stake 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 period. Finally, Teachers Advisors LLC boosted its stake in shares of NN by 1.5% in the second quarter. Teachers Advisors LLC now owns 49,164 shares of the industrial products company’s stock worth $1,350,000 after buying an additional 706 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.
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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