NN (NNBR) Posts Earnings Results, Misses Estimates By $0.06 EPS

NN (NASDAQ:NNBR) posted its quarterly earnings data on Thursday. The industrial products company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06), Fidelity Earnings reports. NN had a net margin of 1.38% and a return on equity of 7.66%. The company had revenue of $205.68 million for the quarter, compared to analysts’ expectations of $210.30 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 38.8% on a year-over-year basis.

NASDAQ NNBR opened at $7.79 on Friday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.78 and a current ratio of 2.62. NN has a 12 month low of $7.74 and a 12 month high of $29.50. The company has a market capitalization of $341.07 million, a P/E ratio of 5.02 and a beta of 1.38.

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

A hedge fund recently raised its stake in NN stock. Bank of New York Mellon Corp increased its holdings in NN, Inc. (NASDAQ:NNBR) by 8.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,308 shares of the industrial products company’s stock after purchasing an additional 12,119 shares during the period. Bank of New York Mellon Corp owned 0.55% of NN worth $2,898,000 as of its most recent SEC filing. 96.89% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on the company. KeyCorp reaffirmed an “overweight” rating and set a $20.00 price objective (down from $28.00) on shares of NN in a research report on Friday. Zacks Investment Research cut NN from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 13th. Stifel Nicolaus lowered their price objective on NN from $23.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, October 11th. Robert W. Baird assumed coverage on NN in a research report on Monday, October 8th. They set a “neutral” rating and a $17.00 price objective on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of NN in a research report on Friday, September 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. NN has a consensus rating of “Hold” and a consensus price target of $22.80.

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About NN

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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Earnings History for NN (NASDAQ:NNBR)

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