Zacks: Brokerages Expect NN, Inc. (NNBR) to Post $0.38 Earnings Per Share

Equities research analysts expect NN, Inc. (NASDAQ:NNBR) to post earnings per share of $0.38 for the current quarter, according to Zacks. Five analysts have issued estimates for NN’s earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.28. NN posted earnings of $0.30 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 26.7%. The firm is expected to issue its next quarterly earnings results on Thursday, March 14th.

According to Zacks, analysts expect that NN will report full year earnings of $1.45 per share for the current year, with EPS estimates ranging from $1.35 to $1.54. For the next year, analysts expect that the business will post earnings of $1.73 per share, with EPS estimates ranging from $1.40 to $2.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover NN.

NN (NASDAQ:NNBR) last posted its earnings results on Thursday, November 8th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.06). NN had a net margin of 1.38% and a return on equity of 7.66%. The company had revenue of $205.68 million during the quarter, compared to analysts’ expectations of $210.30 million. During the same quarter last year, the firm earned $0.23 EPS. NN’s revenue for the quarter was up 38.8% on a year-over-year basis.

Several equities analysts have issued reports on the company. ValuEngine lowered NN from a “sell” rating to a “strong sell” rating in a research note on Monday, August 13th. William Blair reiterated a “market perform” rating on shares of NN in a research note on Friday, September 28th. Zacks Investment Research lowered NN from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. BidaskClub upgraded NN from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $23.00 target price (down previously from $26.00) on shares of NN in a research note on Monday, August 13th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.80.

NNBR traded down $0.29 on Monday, hitting $7.79. The company had a trading volume of 1,625,005 shares, compared to its average volume of 449,500. NN has a 12-month low of $7.74 and a 12-month high of $29.50. The company has a debt-to-equity ratio of 2.35, a current ratio of 2.62 and a quick ratio of 1.78. The firm has a market capitalization of $341.07 million, a PE ratio of 5.02 and a beta of 1.38.

In other NN news, CEO Richard D. Holder purchased 3,100 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were acquired at an average price of $16.04 per share, for a total transaction of $49,724.00. Following the completion of the purchase, the chief executive officer now owns 173,401 shares of the company’s stock, valued at $2,781,352.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Matthew S. Heiter purchased 2,150 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were acquired at an average price of $15.99 per share, for a total transaction of $34,378.50. Following the purchase, the vice president now directly owns 18,184 shares of the company’s stock, valued at approximately $290,762.16. The disclosure for this purchase can be found here. Insiders have bought 6,450 shares of company stock worth $103,387 in the last 90 days. Insiders own 2.74% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Swiss National Bank grew its stake in shares of NN by 10.3% during the second quarter. Swiss National Bank now owns 50,280 shares of the industrial products company’s stock worth $950,000 after acquiring an additional 4,700 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of NN by 8.6% during the second quarter. Bank of New York Mellon Corp now owns 153,308 shares of the industrial products company’s stock worth $2,898,000 after acquiring an additional 12,119 shares during the last quarter. Yorktown Management & Research Co Inc grew its stake in shares of NN by 20.4% during the second quarter. Yorktown Management & Research Co Inc now owns 46,729 shares of the industrial products company’s stock worth $883,000 after acquiring an additional 7,929 shares during the last quarter. Private Management Group Inc. boosted its position in NN by 4.5% in the second quarter. Private Management Group Inc. now owns 740,300 shares of the industrial products company’s stock valued at $13,992,000 after buying an additional 32,161 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. boosted its position in NN by 9.3% in the second quarter. Guyasuta Investment Advisors Inc. now owns 58,635 shares of the industrial products company’s stock valued at $1,108,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

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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Earnings History and Estimates for NN (NASDAQ:NNBR)

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