Zacks: Brokerages Anticipate NN, Inc. (NNBR) Will Post Earnings of $0.36 Per Share

Brokerages expect NN, Inc. (NASDAQ:NNBR) to announce earnings per share (EPS) of $0.36 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for NN’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.42. NN posted earnings per share of $0.29 in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.1%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, November 7th.

According to Zacks, analysts expect that NN will report full-year earnings of $1.45 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.54. For the next year, analysts forecast that the firm will post earnings of $1.73 per share, with EPS estimates ranging from $1.40 to $2.20. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow NN.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Thursday, August 9th. The industrial products company reported $0.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.38. NN had a net margin of 3.05% and a return on equity of 7.64%. The firm had revenue of $196.30 million during the quarter, compared to analyst estimates of $197.21 million. During the same period in the previous year, the business posted $0.51 EPS. The business’s quarterly revenue was up 24.3% on a year-over-year basis.

Several brokerages recently commented on NNBR. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 13th. Stifel Nicolaus decreased their target price on shares of NN from $23.00 to $18.00 and set a “hold” rating on the stock in a research note on Thursday, October 11th. Robert W. Baird began coverage on shares of NN in a research note on Monday, October 8th. They issued a “neutral” rating and a $17.00 target price on the stock. William Blair reaffirmed a “market perform” rating on shares of NN in a research note on Friday, September 28th. Finally, ValuEngine downgraded shares of NN from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $24.40.

Shares of NASDAQ NNBR traded down $0.40 during mid-day trading on Friday, hitting $12.26. The stock had a trading volume of 534,800 shares, compared to its average volume of 225,529. The company has a quick ratio of 1.78, a current ratio of 2.62 and a debt-to-equity ratio of 2.35. NN has a 1 year low of $12.13 and a 1 year high of $32.90. The company has a market cap of $358.26 million, a price-to-earnings ratio of 8.12 and a beta of 1.09.

In other news, CEO Richard D. Holder bought 3,100 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were bought at an average cost of $16.04 per share, with a total value of $49,724.00. Following the completion of the purchase, the chief executive officer now directly owns 173,401 shares in the company, valued at $2,781,352.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Matthew S. Heiter bought 2,150 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was purchased at an average cost of $15.99 per share, for a total transaction of $34,378.50. Following the completion of the purchase, the vice president now owns 18,184 shares of the company’s stock, valued at $290,762.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 6,450 shares of company stock worth $103,387. 2.74% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in NN by 8.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 153,308 shares of the industrial products company’s stock valued at $2,898,000 after purchasing an additional 12,119 shares during the period. Putnam Investments LLC increased its position in NN by 319.5% during the 2nd quarter. Putnam Investments LLC now owns 131,955 shares of the industrial products company’s stock valued at $2,494,000 after purchasing an additional 100,500 shares during the period. Millennium Management LLC purchased a new position in NN during the 2nd quarter valued at $1,274,000. Citadel Advisors LLC purchased a new position in NN during the 2nd quarter valued at $2,696,000. Finally, Private Management Group Inc. increased its position in NN by 4.5% during the 2nd quarter. Private Management Group Inc. now owns 740,300 shares of the industrial products company’s stock valued at $13,992,000 after purchasing an additional 32,161 shares during the period. 95.82% of the stock is currently owned by institutional investors.

NN Company Profile

NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.

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