$155.27 Million in Sales Expected for NN, Inc. (NNBR) This Quarter
Wall Street brokerages expect NN, Inc. (NASDAQ:NNBR) to post $155.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for NN’s earnings, with the highest sales estimate coming in at $156.10 million and the lowest estimate coming in at $154.70 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 expected to issue its next quarterly earnings report after the market closes on Wednesday, March 7th.
On average, analysts expect that NN will report full-year sales of $155.27 million for the current fiscal year, with estimates ranging from $755.00 million to $756.50 million. For the next fiscal year, analysts anticipate that the firm will post sales of $675.09 million per share, with estimates ranging from $668.90 million to $679.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow NN.
Several equities research analysts have recently weighed in on NNBR shares. Zacks Investment Research raised NN from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. BidaskClub cut NN from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 27th. Finally, ValuEngine cut NN from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $32.50.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were given a $0.07 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.28 annualized dividend and a yield of 1.17%. NN’s dividend payout ratio (DPR) is currently -54.90%.
A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in NN by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,319,809 shares of the industrial products company’s stock worth $67,276,000 after purchasing an additional 12,964 shares during the period. Jennison Associates LLC lifted its position in NN by 8.8% in the third quarter. Jennison Associates LLC now owns 2,222,746 shares of the industrial products company’s stock worth $64,460,000 after purchasing an additional 179,578 shares during the period. BlackRock Inc. lifted its position in NN by 1.4% in the fourth quarter. BlackRock Inc. now owns 1,816,823 shares of the industrial products company’s stock worth $50,144,000 after purchasing an additional 24,497 shares during the period. Vanguard Group Inc. lifted its position in NN by 5.0% in the second quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock worth $31,171,000 after purchasing an additional 53,688 shares during the period. Finally, Royce & Associates LP lifted its position in NN by 5.4% in the fourth quarter. Royce & Associates LP now owns 1,039,893 shares of the industrial products company’s stock worth $28,701,000 after purchasing an additional 53,509 shares during the period. 92.29% of the stock is owned by hedge funds and other institutional investors.
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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