Zacks: Brokerages Expect NN, Inc. (NNBR) Will Announce Quarterly Sales of $206.53 Million
Analysts expect that NN, Inc. (NASDAQ:NNBR) will report $206.53 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for NN’s earnings, with the highest sales estimate coming in at $209.52 million and the lowest estimate coming in at $202.97 million. NN posted sales of $148.16 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 39.4%. The firm is expected to announce its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that NN will report full year sales of $783.85 million for the current fiscal year, with estimates ranging from $775.60 million to $788.47 million. For the next fiscal year, analysts expect that the business will post sales of $858.01 million per share, with estimates ranging from $857.31 million to $858.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for NN.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Thursday, August 9th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $196.30 million for the quarter, compared to the consensus estimate of $197.21 million. NN had a net margin of 3.05% and a return on equity of 7.53%. The business’s revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC increased its stake in NN by 0.9% during the 2nd quarter. Jennison Associates LLC now owns 2,201,181 shares of the industrial products company’s stock worth $41,602,000 after buying an additional 19,728 shares during the period. BlackRock Inc. increased its stake in NN by 8.2% during the 2nd quarter. BlackRock Inc. now owns 1,962,418 shares of the industrial products company’s stock worth $37,087,000 after buying an additional 148,478 shares during the period. Nuveen Asset Management LLC increased its stake in NN by 17.3% during the 1st quarter. Nuveen Asset Management LLC now owns 1,420,015 shares of the industrial products company’s stock worth $34,080,000 after buying an additional 209,232 shares during the period. Royce & Associates LP increased its stake in NN by 15.4% during the 2nd quarter. Royce & Associates LP now owns 1,306,149 shares of the industrial products company’s stock worth $24,686,000 after buying an additional 174,756 shares during the period. Finally, Private Management Group Inc. increased its stake in NN by 4.5% during the 2nd quarter. Private Management Group Inc. now owns 740,300 shares of the industrial products company’s stock worth $13,992,000 after buying an additional 32,161 shares during the period. 98.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NN traded down $0.35, reaching $19.70, on Tuesday, Marketbeat reports. The company had a trading volume of 261,406 shares, compared to its average volume of 194,416. The company has a market capitalization of $554.71 million, a price-to-earnings ratio of 12.71 and a beta of 1.02. NN has a 52-week low of $18.05 and a 52-week high of $32.90. The company has a debt-to-equity ratio of 1.62, a quick ratio of 3.02 and a current ratio of 3.77.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Monday, September 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.42%. The ex-dividend date is Thursday, August 30th. NN’s payout ratio is currently 18.06%.
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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