Analysts forecast that NN, Inc. (NASDAQ:NNBR) will announce sales of $220.16 million for the current quarter, according to Zacks. Three analysts have made estimates for NN’s earnings, with estimates ranging from $219.30 million to $220.92 million. NN posted sales of $214.27 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The company is expected to issue its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that NN will report full-year sales of $220.16 million for the current fiscal year, with estimates ranging from $866.20 million to $867.88 million. For the next year, analysts forecast that the business will post sales of $905.04 million per share, with estimates ranging from $883.50 million to $921.46 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow NN.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. NN had a negative net margin of 2.73% and a positive return on equity of 11.50%. The business had revenue of $226.31 million for the quarter, compared to analysts’ expectations of $215.86 million.
NNBR has been the topic of a number of recent research reports. TheStreet upgraded shares of NN from a “c+” rating to a “b” rating in a research note on Monday, June 5th. ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of NN from a “sell” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Tuesday, March 7th.
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NN (NASDAQ:NNBR) traded up 0.53% during mid-day trading on Friday, hitting $28.55. 207,271 shares of the stock were exchanged. NN has a 12-month low of $12.77 and a 12-month high of $31.65. The company has a 50 day moving average of $28.42 and a 200 day moving average of $22.71. The firm has a market cap of $784.13 million, a P/E ratio of 46.80 and a beta of 0.86.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.98%. NN’s payout ratio is -33.33%.
Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after buying an additional 530 shares during the last quarter. Bank of Montreal Can purchased a new stake in NN during the first quarter worth $162,000. Highbridge Capital Management LLC purchased a new stake in NN during the fourth quarter worth $220,000. US Bancorp DE raised its stake in NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after buying an additional 457 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock valued at $356,000 after buying an additional 1,127 shares in the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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