NN, Inc. (NNBR) Expected to Post Quarterly Sales of $208.51 Million

Equities research analysts expect that NN, Inc. (NASDAQ:NNBR) will announce sales of $208.51 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for NN’s earnings. The lowest sales estimate is $203.10 million and the highest is $212.93 million. NN reported sales of $169.15 million during the same quarter last year, which indicates a positive year over year growth rate of 23.3%. The company is scheduled to report its next earnings report on Wednesday, May 8th.

On average, analysts expect that NN will report full-year sales of $872.16 million for the current year, with estimates ranging from $861.00 million to $881.64 million. For the next year, analysts forecast that the firm will report sales of $915.89 million, with estimates ranging from $898.60 million to $931.30 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover NN.

NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, March 13th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.05). NN had a negative net margin of 34.32% and a positive return on equity of 7.48%. The firm had revenue of $199.48 million for the quarter, compared to the consensus estimate of $203.05 million.

Several equities analysts recently issued reports on NNBR shares. JPMorgan Chase & Co. started coverage on NN in a research note on Monday, January 7th. They set an “overweight” rating and a $15.00 price target on the stock. Zacks Investment Research lowered NN from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. BidaskClub lowered NN from a “hold” rating to a “sell” rating in a research note on Wednesday, March 13th. TheStreet lowered NN from a “c-” rating to a “d+” rating in a research note on Monday, December 3rd. Finally, Robert W. Baird lowered their price target on NN from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $20.17.

NNBR traded down $0.21 on Monday, hitting $7.49. 570,509 shares of the stock traded hands, compared to its average volume of 445,528. NN has a 52 week low of $5.55 and a 52 week high of $25.25. The company has a quick ratio of 1.20, a current ratio of 2.05 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $324.20 million, a price-to-earnings ratio of 6.40 and a beta of 1.38.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, February 14th. NN’s payout ratio is 23.93%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in shares of NN by 4,584.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 21,033 shares of the industrial products company’s stock worth $328,000 after acquiring an additional 20,584 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of NN by 45.5% in the 3rd quarter. Vanguard Group Inc now owns 1,747,698 shares of the industrial products company’s stock worth $27,264,000 after acquiring an additional 546,327 shares in the last quarter. Morgan Stanley boosted its holdings in shares of NN by 47.8% in the 3rd quarter. Morgan Stanley now owns 123,548 shares of the industrial products company’s stock worth $1,928,000 after acquiring an additional 39,946 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of NN in the 3rd quarter worth approximately $102,000. Finally, Renaissance Technologies LLC acquired a new position in shares of NN in the 3rd quarter worth approximately $1,050,000.

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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