NN, Inc. (NNBR) Announces Quarterly Earnings Results, Meets Estimates
NN, Inc. (NASDAQ:NNBR) announced its earnings results on Wednesday. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29, Briefing.com reports. The business had revenue of $148.16 million during the quarter, compared to analyst estimates of $150.50 million. NN had a positive return on equity of 13.95% and a negative net margin of 1.76%. NN’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. NN updated its Q4 guidance to $0.30-0.34 EPS.
Shares of NN (NASDAQ NNBR) traded down $0.65 during trading on Friday, reaching $28.15. The company had a trading volume of 171,946 shares, compared to its average volume of 72,074. The firm has a market capitalization of $787.65 million, a P/E ratio of 17.65 and a beta of 0.68.
In other news, insider Thomas C. Jr. Burwell sold 6,000 shares of the company’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 directly owns 37,881 shares of the company’s stock, valued at $1,037,181.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven T. Warshaw sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $26.82, for a total value of $53,640.00. Following the transaction, the director now directly owns 58,732 shares of the company’s stock, valued at $1,575,192.24. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock valued at $500,660 over the last ninety days. 2.80% of the stock is owned by insiders.
NNBR has been the subject of several analyst reports. KeyCorp reaffirmed a “buy” rating and set a $36.00 target price on shares of NN in a research report on Friday, October 20th. Stifel Nicolaus reissued a “hold” rating and issued 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 lowered NN from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research lowered NN from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. NN presently has a consensus rating of “Hold” and an average target price of $33.00.
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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