Zacks: Brokerages Anticipate NN, Inc. (NNBR) Will Announce Quarterly Sales of $151.27 Million
Wall Street brokerages expect NN, Inc. (NASDAQ:NNBR) to post $151.27 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for NN’s earnings, with the lowest sales estimate coming in at $150.69 million and the highest estimate coming in at $151.80 million. NN reported sales of $204.96 million during the same quarter last year, which indicates a negative year over year growth rate of 26.2%. The firm is expected to report its next earnings results after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that NN will report full year sales of $151.27 million for the current fiscal year, with estimates ranging from $750.58 million to $754.37 million. For the next year, analysts expect that the company will post sales of $657.30 million per share, with estimates ranging from $645.80 million to $675.34 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover NN.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $225.88 million for the quarter, compared to analyst estimates of $221.00 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. NN’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share.
A number of analysts have weighed in on NNBR shares. KeyCorp reissued a “buy” rating and set a $36.00 target price on shares of NN in a report on Sunday, September 17th. SunTrust Banks, Inc. started coverage on shares of NN in a report on Thursday, June 15th. They set a “buy” rating and a $37.00 target price on the stock. They noted that the move was a valuation call. Zacks Investment Research cut shares of NN from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. Stifel Nicolaus reissued a “hold” rating and set a $29.00 target price on shares of NN in a report on Friday, August 4th. Finally, William Blair reissued a “market perform” rating on shares of NN in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. NN has an average rating of “Hold” and a consensus price target of $33.00.
In other NN news, Director Steven T. Warshaw sold 5,000 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $27.08, for a total transaction of $135,400.00. Following the sale, the director now directly owns 58,732 shares of the company’s stock, valued at $1,590,462.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas C. Jr. Burwell sold 6,000 shares of the 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 sale, the insider now directly owns 37,881 shares in the company, valued at approximately $1,037,181.78. The disclosure for this sale can be found here. Insiders have sold 16,000 shares of company stock worth $436,660 over the last three months. 2.80% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. acquired a new stake in shares of NN in the 2nd quarter worth about $139,000. Envestnet Asset Management Inc. increased its holdings in shares of NN by 10.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 530 shares during the period. US Bancorp DE increased its holdings in shares of NN by 4.5% in the 1st quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 457 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of NN in the 2nd quarter worth about $298,000. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of NN in the 2nd quarter worth about $323,000. 91.27% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.94%. NN’s dividend payout ratio (DPR) is -116.67%.
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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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