NN (NASDAQ:NNBR) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

NN (NASDAQ:NNBR) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05, Zacks reports. NN had a positive return on equity of 20.38% and a negative net margin of 6.21%.

NN Stock Up 8.3%

Shares of NNBR stock traded up $0.29 during trading hours on Wednesday, hitting $3.80. 3,068,515 shares of the company were exchanged, compared to its average volume of 1,975,522. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.08 and a current ratio of 1.79. NN has a one year low of $1.10 and a one year high of $4.79. The business’s 50-day simple moving average is $3.63 and its two-hundred day simple moving average is $2.67. The stock has a market capitalization of $356.23 million, a price-to-earnings ratio of -3.96 and a beta of 2.65.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Zacks Research upgraded NN from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th. Craig Hallum assumed coverage on NN in a research report on Monday, July 20th. They issued a “buy” rating and a $7.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Thursday, October 15th. Lake Street Capital reiterated a “buy” rating and set a $7.00 target price on shares of NN in a research note on Friday, August 7th. Finally, Wall Street Zen raised shares of NN from a “hold” rating to a “buy” rating in a research report on Saturday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.67.

NN Company Profile

NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, electrical, industrial, aerospace, and medical markets. Its products are designed for applications that require precision, durability, and consistent performance.

The company’s manufacturing capabilities have included precision machining, metal forming, plastic injection molding, and the production of complex assemblies. NN, Inc has supplied components used in systems such as automotive powertrains, electrical and industrial equipment, medical devices, and other specialized products.

Founded in 1980 as NN Ball & Roller, the company expanded beyond its original bearing-component operations through acquisitions and later adopted the NN, Inc name.