NN Inc. (NASDAQ:NNBR) Receives Average Recommendation of “Hold” from Brokerages
NN Inc. (NASDAQ:NNBR) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the company. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $15.50.
Several research firms recently weighed in on NNBR. Zacks Investment Research lowered NN from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. William Blair reiterated a “market perform” rating and set a $15.00 price objective (down previously from $18.00) on shares of NN in a research note on Friday, June 10th.
A number of hedge funds and other institutional investors have recently made changes to their positions in NNBR. BlackRock Group LTD boosted its position in NN by 64.7% in the second quarter. BlackRock Group LTD now owns 10,644 shares of the company’s stock valued at $149,000 after buying an additional 4,182 shares in the last quarter. American Financial Group Inc. acquired a new position in NN during the second quarter valued at $153,000. Alliancebernstein L.P. boosted its position in NN by 17.3% in the second quarter. Alliancebernstein L.P. now owns 14,900 shares of the company’s stock valued at $208,000 after buying an additional 2,200 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in NN during the second quarter valued at $220,000. Finally, Miles Capital Inc. acquired a new position in NN during the second quarter valued at $220,000. Institutional investors and hedge funds own 98.44% of the company’s stock.
Shares of NN (NASDAQ:NNBR) traded up 2.438% on Monday, reaching $18.695. The company’s stock had a trading volume of 72,892 shares. The company’s market cap is $507.10 million. The stock has a 50-day moving average of $17.71 and a 200 day moving average of $15.96. NN has a 52-week low of $10.34 and a 52-week high of $19.83.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. NN had a positive return on equity of 10.72% and a negative net margin of 2.85%. 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 previous year, the company posted $0.37 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. On average, equities research analysts forecast that NN will post $1.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Wednesday, August 31st. NN’s payout ratio is -34.15%.
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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