NN, Inc. (NNBR) Expected to Post Quarterly Sales of $203.05 Million

Brokerages predict that NN, Inc. (NASDAQ:NNBR) will post $203.05 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for NN’s earnings. The lowest sales estimate is $201.90 million and the highest is $204.50 million. NN posted sales of $156.14 million during the same quarter last year, which would indicate a positive year over year growth rate of 30%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, March 13th.

On average, analysts expect that NN will report full-year sales of $774.24 million for the current financial year, with estimates ranging from $773.10 million to $775.70 million. For the next financial year, analysts expect that the business will report sales of $866.01 million, with estimates ranging from $851.60 million to $888.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover NN.

Several research firms recently weighed in on NNBR. Zacks Investment Research upgraded NN from a “sell” rating to a “hold” rating in a research report on Thursday, February 21st. BidaskClub lowered NN from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. KeyCorp dropped their price target on NN from $28.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, November 9th. JPMorgan Chase & Co. began coverage on NN in a research report on Monday, January 7th. They set an “overweight” rating and a $15.00 price target on the stock. Finally, TheStreet lowered NN from a “c-” rating to a “d+” rating in a research report on Monday, December 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. NN presently has an average rating of “Hold” and an average target price of $21.50.

In other news, Director Robert E. Brunner acquired 4,000 shares of NN stock in a transaction that occurred on Friday, December 14th. The stock was bought at an average price of $6.31 per share, for a total transaction of $25,240.00. Following the completion of the transaction, the director now owns 16,839 shares in the company, valued at $106,254.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carey A. Smith acquired 5,000 shares of NN stock in a transaction that occurred on Monday, December 24th. The shares were purchased at an average price of $5.80 per share, with a total value of $29,000.00. Following the transaction, the director now owns 11,331 shares of the company’s stock, valued at approximately $65,719.80. The disclosure for this purchase can be found here. Insiders bought 16,000 shares of company stock valued at $97,150 in the last 90 days. Company insiders own 2.74% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NNBR. SG Americas Securities LLC bought a new stake in NN during the third quarter valued at about $102,000. Legal & General Group Plc grew its holdings in NN by 69.0% during the fourth quarter. Legal & General Group Plc now owns 7,303 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 2,981 shares during the period. PNC Financial Services Group Inc. grew its holdings in NN by 11,750.0% during the third quarter. PNC Financial Services Group Inc. now owns 7,584 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 7,520 shares during the period. Citigroup Inc. grew its holdings in NN by 35.0% during the fourth quarter. Citigroup Inc. now owns 9,947 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 2,577 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in NN during the third quarter valued at about $161,000.

Shares of NNBR stock traded down $0.02 during trading hours on Friday, reaching $9.51. The company’s stock had a trading volume of 251,073 shares, compared to its average volume of 403,284. The firm has a market cap of $446.30 million, a P/E ratio of 6.14 and a beta of 1.38. NN has a one year low of $5.55 and a one year high of $25.55. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.53 and a current ratio of 2.36.

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.94%. The ex-dividend date was Thursday, February 14th. NN’s dividend payout ratio (DPR) is 18.06%.

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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