Zacks: Brokerages Anticipate NN, Inc. (NASDAQ:NNBR) Will Announce Quarterly Sales of $215.68 Million

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Brokerages expect NN, Inc. (NASDAQ:NNBR) to announce sales of $215.68 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for NN’s earnings, with the lowest sales estimate coming in at $214.00 million and the highest estimate coming in at $217.12 million. NN reported sales of $205.68 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.9%. The company is expected to issue its next quarterly earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that NN will report full-year sales of $859.85 million for the current financial year, with estimates ranging from $858.30 million to $861.87 million. For the next financial year, analysts anticipate that the company will post sales of $904.45 million, with estimates ranging from $900.15 million to $907.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for NN.

NN (NASDAQ:NNBR) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $221.70 million for the quarter, compared to analysts’ expectations of $217.95 million. NN had a positive return on equity of 8.04% and a negative net margin of 30.86%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS.

A number of equities research analysts have recently commented on NNBR shares. ValuEngine raised NN from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 4th. BidaskClub raised NN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Zacks Investment Research raised NN from a “sell” rating to a “hold” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. NN presently has a consensus rating of “Hold” and a consensus price target of $13.44.

Several large investors have recently made changes to their positions in the company. Smith Graham & Co. Investment Advisors LP lifted its position in shares of NN by 3.2% during the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 1,119,818 shares of the industrial products company’s stock valued at $7,984,000 after acquiring an additional 34,345 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of NN by 0.9% during the 2nd quarter. Primecap Management Co. CA now owns 6,352,900 shares of the industrial products company’s stock valued at $62,004,000 after acquiring an additional 58,900 shares during the last quarter. First Manhattan Co. lifted its position in shares of NN by 52.2% during the 2nd quarter. First Manhattan Co. now owns 157,500 shares of the industrial products company’s stock valued at $1,537,000 after acquiring an additional 54,000 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of NN by 41.4% during the 2nd quarter. Victory Capital Management Inc. now owns 203,500 shares of the industrial products company’s stock valued at $1,986,000 after acquiring an additional 59,600 shares during the last quarter. Finally, Jefferies Group LLC acquired a new stake in shares of NN during the 2nd quarter valued at $105,000. 93.42% of the stock is owned by institutional investors and hedge funds.

NN stock traded up $0.10 during mid-day trading on Thursday, hitting $7.38. 190,027 shares of the company were exchanged, compared to its average volume of 314,738. The company has a market capitalization of $320.29 million, a P/E ratio of 6.31 and a beta of 1.69. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.13 and a quick ratio of 1.27. NN has a 12-month low of $5.55 and a 12-month high of $12.77. The business’s 50 day simple moving average is $7.13 and its two-hundred day simple moving average is $7.97.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Friday, September 6th. NN’s dividend payout ratio is currently 23.93%.

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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