$151.03 Million in Sales Expected for NN, Inc. (NNBR) This Quarter
Analysts predict that NN, Inc. (NASDAQ:NNBR) will report $151.03 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for NN’s earnings, with estimates ranging from $150.69 million to $151.60 million. NN reported sales of $204.96 million in the same quarter last year, which indicates a negative year over year growth rate of 26.3%. The business is scheduled to issue its next earnings results on Wednesday, November 1st.
On average, 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 fiscal 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 an average based on a survey of sell-side research firms that cover NN.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The company had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $221 million. During the same quarter in the prior year, the company posted $0.46 EPS. The business’s revenue was up 5.4% on a year-over-year basis.
A number of equities research analysts have recently weighed in on the company. TheStreet raised NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. William Blair reissued a “market perform” rating on shares of NN in a report on Thursday, August 31st. BidaskClub downgraded NN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded NN from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, SunTrust Banks, Inc. assumed coverage on NN in a 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. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $30.25.
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Shares of NN (NNBR) traded down 0.297% during trading on Wednesday, hitting $25.175. 175,040 shares of the stock were exchanged. The firm’s 50-day moving average is $26.63 and its 200 day moving average is $26.40. The company’s market cap is $693.32 million. NN has a 1-year low of $13.43 and a 1-year high of $31.65.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, August 30th. NN’s dividend payout ratio is currently -116.67%.
Hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. acquired a new position in NN in the second quarter valued at about $139,000. Envestnet Asset Management Inc. raised its stake in NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after purchasing an additional 530 shares in the last quarter. Bank of Montreal Can acquired a new position in NN in the first quarter valued at about $162,000. US Bancorp DE raised 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 purchasing an additional 457 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in NN in the second quarter valued at about $298,000. 91.27% of the stock is owned by institutional investors and hedge funds.
NN, Inc is a diversified industrial company and a global manufacturer of high precision components and assemblies to a range of markets on a global basis. The Company’s operating segments include: the Precision Engineered Products Group and the Autocam Precision Components Group. Precision Engineered Products Group combines materials science capability with engineering and production solutions to design and manufacture a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets.
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