$0.29 EPS Expected for NN, Inc. (NNBR) This Quarter
Equities research analysts expect that NN, Inc. (NASDAQ:NNBR) will announce $0.29 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have made 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 would indicate a negative year-over-year growth rate of 23.7%. The business is scheduled to issue its next earnings results on Wednesday, November 1st.
On average, analysts expect that NN will report full year earnings of $1.62 per share for the current year, with EPS estimates ranging from $1.57 to $1.65. For the next financial year, analysts expect that the firm will post earnings of $1.78 per share, with EPS estimates ranging from $1.70 to $1.82. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for NN.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) 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 analyst estimates of $221.00 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share.
NNBR has been the subject of a number of analyst reports. SunTrust Banks, Inc. initiated coverage on 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. Zacks Investment Research lowered NN from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. William Blair reiterated a “market perform” rating on shares of NN in a research note on Thursday, August 31st. BidaskClub lowered NN from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, ValuEngine upgraded NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. NN currently has an average rating of “Hold” and a consensus price target of $31.40.
In other news, insider Thomas C. Jr. Burwell sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $27.38, for a total transaction of $164,280.00. Following the completion of the transaction, the insider now owns 37,881 shares in the company, valued at $1,037,181.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven T. Warshaw sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $26.82, for a total value of $53,640.00. Following the transaction, the director now owns 58,732 shares of the company’s stock, valued at approximately $1,575,192.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,000 shares of company stock valued at $436,660. Company insiders own 2.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. purchased a new position in shares of NN during the second quarter valued at about $139,000. Envestnet Asset Management Inc. grew its position in shares of NN by 10.3% during 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 purchased a new position in shares of NN during the first quarter valued at about $162,000. US Bancorp DE grew its position in shares of NN by 4.5% during 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 purchased a new position in shares of NN during the second quarter valued at about $298,000. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Shares of NN (NNBR) traded up 1.62% during midday trading on Friday, reaching $28.25. The company’s stock had a trading volume of 71,432 shares. The company’s market cap is $778.01 million. NN has a 12 month low of $13.43 and a 12 month high of $31.65. The company’s 50-day moving average price is $26.01 and its 200-day moving average price is $26.78.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.99%. NN’s payout ratio is -116.67%.
NN Company Profile
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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