NN (NNBR) Releases Earnings Results, Misses Estimates By $0.05 EPS

NN (NASDAQ:NNBR) posted its quarterly earnings results on Wednesday. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.05), Fidelity Earnings reports. NN had a net margin of 1.38% and a return on equity of 7.02%.

NNBR stock traded down $1.23 during trading hours on Thursday, hitting $7.82. 312,309 shares of the stock traded hands, compared to its average volume of 282,896. NN has a one year low of $5.55 and a one year high of $25.55. The stock has a market capitalization of $384.41 million, a P/E ratio of 5.05 and a beta of 1.38. The company has a quick ratio of 1.53, a current ratio of 2.36 and a debt-to-equity ratio of 1.32.

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 15th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $0.28 annualized dividend and a yield of 3.58%. NN’s dividend payout ratio is currently 18.06%.

In related news, Director Carey A. Smith bought 5,000 shares of NN stock in a transaction dated Monday, December 24th. The stock was acquired at an average cost of $5.80 per share, with a total value of $29,000.00. Following the completion of the acquisition, the director now directly owns 11,331 shares in the company, valued at approximately $65,719.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert E. Brunner bought 4,000 shares of NN stock in a transaction dated Friday, December 14th. The shares were bought at an average cost of $6.31 per share, with a total value of $25,240.00. Following the completion of the acquisition, the director now owns 16,839 shares of the company’s stock, valued at $106,254.09. The disclosure for this purchase can be found here. Insiders have purchased 16,000 shares of company stock valued at $97,150 in the last ninety days. Company insiders own 2.74% of the company’s stock.

A hedge fund recently raised its stake in NN stock. Geode Capital Management LLC increased its holdings in NN, Inc. (NASDAQ:NNBR) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 460,507 shares of the industrial products company’s stock after acquiring an additional 115,157 shares during the period. Geode Capital Management LLC owned about 1.09% of NN worth $3,090,000 at the end of the most recent reporting period. 99.78% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on NNBR shares. BidaskClub raised NN from a “hold” rating to a “buy” rating in a research note on Thursday, February 7th. TheStreet cut NN from a “c-” rating to a “d+” rating in a research note on Monday, December 3rd. Zacks Investment Research raised NN from a “sell” rating to a “hold” rating in a research note on Thursday, February 21st. Finally, JPMorgan Chase & Co. started coverage on NN in a research note on Monday, January 7th. They issued an “overweight” rating and a $15.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. NN currently has a consensus rating of “Hold” and a consensus price target of $21.50.

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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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