$0.29 Earnings Per Share Expected for NN, Inc. (NNBR) This Quarter
Brokerages predict that NN, Inc. (NASDAQ:NNBR) will post earnings per share (EPS) of $0.29 for the current quarter, according to Zacks. Four analysts have made estimates for NN’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.30. NN reported earnings of $0.38 per share during the same quarter last year, which indicates a negative year over year growth rate of 23.7%. The company is scheduled to issue its next earnings results on Wednesday, November 1st.
On average, analysts expect that NN will report full year earnings of $1.61 per share for the current year, with EPS estimates ranging from $1.57 to $1.65. For the next year, analysts expect that the business will post earnings of $1.78 per share, with EPS estimates ranging from $1.70 to $1.82. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover NN.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $225.88 million during the quarter, compared to analyst estimates of $221 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.45%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 earnings per share.
NNBR has been the subject of a number of research reports. TheStreet upgraded NN from a “c+” rating to a “b” rating in a research note on Monday, June 5th. ValuEngine upgraded NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. SunTrust Banks, Inc. initiated coverage on NN in a research note on Thursday, June 15th. They issued a “buy” rating and a $37.00 target price for the company. They noted that the move was a valuation call. Zacks Investment Research lowered NN from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $29.00 target price on shares of NN in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.25.
Several hedge funds have recently made changes to their positions in NNBR. D.A. Davidson & CO. acquired a new stake in shares of NN during the second quarter worth $139,000. Envestnet Asset Management Inc. raised its stake in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after buying an additional 530 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of NN during the first quarter worth approximately $162,000. Highbridge Capital Management LLC purchased a new stake in shares of NN during the fourth quarter worth approximately $220,000. Finally, US Bancorp DE raised its stake in shares of NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after buying an additional 457 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.
NN (NASDAQ NNBR) traded down 1.15% during trading on Wednesday, hitting $25.90. 95,459 shares of the stock traded hands. The stock’s market cap is $711.34 million. NN has a one year low of $13.43 and a one year high of $31.65. The company has a 50-day moving average price of $27.76 and a 200 day moving average price of $25.76.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.07 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.07%. NN’s dividend payout ratio (DPR) is presently -116.67%.
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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