NN (NNBR) Issues FY19 Earnings Guidance

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NN (NASDAQ:NNBR) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of $1.10-1.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.32. The company issued revenue guidance of $870-890 million, compared to the consensus revenue estimate of $861.94 million.

NNBR stock opened at $9.05 on Thursday. NN has a fifty-two week low of $5.55 and a fifty-two week 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 company has a market cap of $384.41 million, a P/E ratio of 5.84 and a beta of 1.38.

NN (NASDAQ:NNBR) last posted its quarterly earnings results on Wednesday, March 13th. The industrial products company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.05). NN had a return on equity of 7.02% and a net margin of 1.38%. On average, equities research analysts forecast that NN will post 1.27 earnings per share for the current year.

The company also recently declared 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. This represents a $0.28 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Thursday, February 14th. NN’s dividend payout ratio (DPR) is currently 18.06%.

NNBR has been the topic of a number of research reports. TheStreet downgraded NN from a c- rating to a d+ rating in a research note on Monday, December 3rd. BidaskClub raised NN from a sell rating to a hold rating in a research note on Wednesday, January 2nd. JPMorgan Chase & Co. initiated 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. Finally, Zacks Investment Research raised NN from a sell rating to a hold rating in a research note on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $21.50.

In related news, insider Thomas C. Jr. Burwell acquired 7,000 shares of the stock in a transaction dated Tuesday, December 18th. The stock was purchased at an average cost of $6.13 per share, with a total value of $42,910.00. Following the completion of the purchase, the insider now directly owns 46,329 shares in the company, valued at approximately $283,996.77. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert E. Brunner acquired 4,000 shares of the stock in a transaction dated Friday, December 14th. The stock was bought at an average cost of $6.31 per share, with a total value of $25,240.00. Following the completion of the purchase, 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. Over the last three months, insiders bought 16,000 shares of company stock valued at $97,150. Company insiders own 2.74% of the company’s stock.

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

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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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