NN Inc. (NASDAQ:NNBR) – Research analysts at KeyCorp upped their FY2017 earnings estimates for NN in a note issued to investors on Tuesday. KeyCorp analyst S. Barger now forecasts that the brokerage will post earnings of $2.12 per share for the year, up from their prior estimate of $2.00.
Other analysts also recently issued research reports about the company. Zacks Investment Research raised NN from a “strong sell” rating to a “hold” rating in a research note on Wednesday. William Blair reissued a “market perform” rating and set a $15.00 target price (down previously from $18.00) on shares of NN in a research note on Friday, June 10th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.50.
NN (NASDAQ:NNBR) traded up 2.74% during mid-day trading on Thursday, hitting $20.23. The stock had a trading volume of 224,045 shares. The stock’s market cap is $548.74 million. NN has a 12 month low of $10.34 and a 12 month high of $20.39. The stock’s 50-day moving average price is $17.93 and its 200-day moving average price is $16.15.
NN (NASDAQ:NNBR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The firm earned $214.30 million during the quarter, compared to analyst estimates of $223.14 million. NN had a positive return on equity of 10.72% and a negative net margin of 2.85%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Wednesday, August 31st. NN’s payout ratio is -34.15%.
A number of hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its stake in NN by 36.0% in the first quarter. Nuveen Asset Management LLC now owns 490,774 shares of the company’s stock worth $6,713,000 after buying an additional 129,922 shares during the last quarter. Wellington Management Group LLP increased its stake in NN by 21.0% in the first quarter. Wellington Management Group LLP now owns 1,557,773 shares of the company’s stock worth $21,310,000 after buying an additional 270,391 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in NN during the first quarter worth about $1,008,000. Pax World Management LLC increased its stake in NN by 10.5% in the second quarter. Pax World Management LLC now owns 360,000 shares of the company’s stock worth $5,036,000 after buying an additional 34,123 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in NN by 5.2% in the first quarter. Geode Capital Management LLC now owns 179,380 shares of the company’s stock worth $2,453,000 after buying an additional 8,844 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors and hedge funds.
NN, Inc is a diversified industrial company. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. Within its Precision Bearing Components Group, the Company manufactures and supplies high precision bearing components, consisting of balls, cylindrical rollers, tapered rollers, spherical rollers and metal retainers for bearing and constant velocity-joint manufacturers.
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