NN Inc. (NNBR) to Post FY2017 Earnings of $2.12 Per Share, KeyCorp Forecasts
NN Inc. (NASDAQ:NNBR) – Equities research analysts at KeyCorp upped their FY2017 earnings per share estimates for NN in a report released on Tuesday. KeyCorp analyst S. Barger now expects that the firm will post earnings of $2.12 per share for the year, up from their prior estimate of $2.00.
NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. The firm had revenue of $214.30 million for the quarter, compared to the consensus estimate of $223.14 million. NN had a negative net margin of 2.85% and a positive return on equity of 10.72%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS.
A number of other equities analysts also recently commented on NNBR. Zacks Investment Research upgraded shares of NN from a “strong sell” rating to a “hold” rating and set a $23.00 target price for the company in a report on Wednesday. William Blair reiterated a “market perform” rating and issued a $15.00 target price (down from $18.00) on shares of NN in a report 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 a consensus rating of “Hold” and an average price target of $18.00.
Shares of NN (NASDAQ:NNBR) traded down 3.51% during mid-day trading on Thursday, hitting $19.50. 159,399 shares of the stock were exchanged. NN has a 12 month low of $10.34 and a 12 month high of $20.39. The stock’s market cap is $528.94 million. The stock’s 50 day moving average is $18.11 and its 200-day moving average is $16.22.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.44%. NN’s dividend payout ratio (DPR) is currently -34.15%.
A number of large investors have recently modified their holdings of the stock. Prudential Financial Inc. raised its stake in shares of NN by 464.6% in the first quarter. Prudential Financial Inc. now owns 62,585 shares of the company’s stock worth $856,000 after buying an additional 51,500 shares in the last quarter. Royce & Associates LP raised its stake in shares of NN by 2.0% in the first quarter. Royce & Associates LP now owns 1,416,666 shares of the company’s stock worth $19,380,000 after buying an additional 28,400 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of NN by 12.6% in the first quarter. Primecap Management Co. CA now owns 1,039,742 shares of the company’s stock worth $14,224,000 after buying an additional 116,742 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of NN by 417.0% in the first quarter. Goldman Sachs Group Inc. now owns 57,792 shares of the company’s stock worth $791,000 after buying an additional 46,614 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.
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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