NN, Inc. (NNBR) Expected to Post Quarterly Sales of $155.27 Million

Brokerages expect NN, Inc. (NASDAQ:NNBR) to announce $155.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for NN’s earnings. The lowest sales estimate is $154.70 million and the highest is $156.10 million. NN reported sales of $202.03 million in the same quarter last year, which indicates a negative year-over-year growth rate of 23.1%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, March 7th.

According to Zacks, analysts expect that NN will report full-year sales of $155.27 million for the current financial year, with estimates ranging from $755.00 million to $756.50 million. For the next fiscal year, analysts forecast that the business will post sales of $675.09 million per share, with estimates ranging from $668.90 million to $679.90 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for NN.

A number of brokerages recently weighed in on NNBR. KeyCorp restated a “buy” rating and set a $36.00 target price on shares of NN in a report on Friday, October 20th. Zacks Investment Research upgraded shares of NN from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, BidaskClub raised shares of NN from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.00.

In other news, Director David Floyd acquired 1,865 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was purchased at an average price of $26.98 per share, with a total value of $50,317.70. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.32% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Earnest Partners LLC acquired a new position in NN in the 4th quarter worth approximately $135,000. Capital Fund Management S.A. acquired a new position in NN in the 4th quarter worth approximately $215,000. Teacher Retirement System of Texas acquired a new position in NN in the 4th quarter worth approximately $247,000. Virtu KCG Holdings LLC acquired a new position in NN in the 2nd quarter worth approximately $323,000. Finally, Voya Investment Management LLC boosted its stake in NN by 20.0% in the 2nd quarter. Voya Investment Management LLC now owns 12,222 shares of the industrial products company’s stock worth $335,000 after purchasing an additional 2,037 shares during the period. 92.47% of the stock is owned by hedge funds and other institutional investors.

Shares of NN (NASDAQ:NNBR) opened at $25.25 on Thursday. The firm has a market cap of $715.53, a P/E ratio of -49.90 and a beta of 0.67. NN has a 1-year low of $19.30 and a 1-year high of $32.90. The company has a current ratio of 3.16, a quick ratio of 2.72 and a debt-to-equity ratio of 1.80.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, February 15th. NN’s dividend payout ratio is -54.90%.

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About NN

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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