Research Analysts Set Expectations for NN Inc.’s FY2016 Earnings (NNBR)
NN Inc. (NASDAQ:NNBR) – Equities research analysts at KeyCorp increased their FY2016 earnings per share estimates for NN in a research note issued to investors on Tuesday. KeyCorp analyst S. Barger now forecasts that the brokerage will earn $1.65 per share for the year, up from their prior estimate of $1.62.
NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.46. NN had a negative net margin of 2.85% and a positive return on equity of 10.72%. The company had revenue of $214.30 million for the quarter, compared to analyst estimates of $223.14 million. During the same period in the prior year, the business earned $0.37 earnings per share. NN’s quarterly revenue was up 30.0% on a year-over-year basis.
A number of other equities analysts have also weighed in on NNBR. William Blair reiterated a “market perform” rating and set a $15.00 target price (down previously from $18.00) on shares of NN in a research report on Friday, June 10th. Zacks Investment Research lowered shares of NN from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.00.
NN (NASDAQ:NNBR) opened at 19.50 on Friday. The stock’s 50 day moving average is $18.11 and its 200-day moving average is $16.22. NN has a 12 month low of $10.34 and a 12 month high of $20.39. The firm’s market capitalization is $528.94 million.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.44%. NN’s dividend payout ratio (DPR) is currently -34.15%.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in NN by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 145,823 shares of the company’s stock worth $2,040,000 after buying an additional 625 shares during the period. Swiss National Bank raised its position in NN by 4.3% in the second quarter. Swiss National Bank now owns 43,280 shares of the company’s stock worth $605,000 after buying an additional 1,800 shares during the period. State Street Corp raised its position in NN by 0.4% in the second quarter. State Street Corp now owns 498,464 shares of the company’s stock worth $6,976,000 after buying an additional 1,907 shares during the period. Teachers Advisors Inc. raised its position in NN by 5.0% in the second quarter. Teachers Advisors Inc. now owns 41,607 shares of the company’s stock worth $582,000 after buying an additional 1,973 shares during the period. Finally, Alliancebernstein L.P. raised its position in NN by 17.3% in the second quarter. Alliancebernstein L.P. now owns 14,900 shares of the company’s stock worth $208,000 after buying an additional 2,200 shares during the period. Institutional investors own 98.44% of the company’s stock.
NN Company Profile
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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