William Blair Comments on NN, Inc.’s Q3 2017 Earnings (NNBR)
NN, Inc. (NASDAQ:NNBR) – Equities research analysts at William Blair dropped their Q3 2017 earnings per share (EPS) estimates for shares of NN in a research note issued on Thursday. William Blair analyst N. Heymann now expects that the industrial products company will post earnings of $0.25 per share for the quarter, down from their prior estimate of $0.27. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for NN’s FY2017 earnings at $1.48 EPS.
NN (NASDAQ:NNBR) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The company had revenue of $225.88 million during the quarter, compared to the consensus estimate of $221.00 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. NN’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.
A number of other research firms also recently commented on NNBR. KeyCorp reiterated a “buy” rating and issued a $36.00 target price on shares of NN in a research report on Sunday, September 17th. Zacks Investment Research cut NN from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub downgraded NN from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. SunTrust Banks, Inc. started coverage on NN in a research note on Thursday, June 15th. They issued a “buy” rating and a $37.00 price objective on the stock. They noted that the move was a valuation call. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $29.00 price objective on shares of NN in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $31.40.
NN (NNBR) opened at 30.00 on Monday. NN has a 12 month low of $13.43 and a 12 month high of $31.65. The firm’s 50-day moving average is $26.71 and its 200-day moving average is $27.22. The company’s market capitalization is $826.20 million.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.07 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.93%. NN’s dividend payout ratio (DPR) is presently -116.67%.
In related news, Director Steven T. Warshaw sold 2,000 shares of NN stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $26.82, for a total value of $53,640.00. Following the completion of the transaction, the director now owns 58,732 shares in the company, valued at $1,575,192.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven T. Warshaw sold 5,000 shares of NN stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $27.08, for a total value of $135,400.00. Following the completion of the transaction, the director now owns 58,732 shares of the company’s stock, valued at approximately $1,590,462.56. The disclosure for this sale can be found here. Insiders have sold a total of 16,000 shares of company stock worth $436,660 over the last 90 days. Corporate insiders own 3.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of NNBR. Dimensional Fund Advisors LP raised its position in NN by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,306,845 shares of the industrial products company’s stock valued at $63,323,000 after purchasing an additional 18,750 shares during the period. Royal Bank of Canada lifted its stake in shares of NN by 3.2% in the 2nd quarter. Royal Bank of Canada now owns 2,211,167 shares of the industrial products company’s stock valued at $60,698,000 after purchasing an additional 69,123 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of NN by 8.7% in the 1st quarter. Primecap Management Co. CA now owns 1,705,000 shares of the industrial products company’s stock valued at $42,966,000 after purchasing an additional 136,500 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of NN by 31.2% in the 1st quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after purchasing an additional 279,795 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of NN by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock valued at $31,171,000 after purchasing an additional 53,688 shares during the last quarter. 91.27% of the stock is currently owned by institutional investors.
NN, Inc is a diversified industrial company and a global manufacturer of high precision components and assemblies to a range of markets on a global basis. The Company’s operating segments include: the Precision Engineered Products Group and the Autocam Precision Components Group. Precision Engineered Products Group combines materials science capability with engineering and production solutions to design and manufacture a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets.
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