Equities Analysts Offer Predictions for NN, Inc.’s FY2019 Earnings (NNBR)
NN, Inc. (NASDAQ:NNBR) – Equities researchers at SunTrust Banks increased their FY2019 EPS estimates for NN in a report issued on Tuesday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will earn $2.21 per share for the year, up from their prior estimate of $2.08.
A number of other brokerages have also commented on NNBR. KeyCorp reiterated a “buy” rating and issued a $36.00 price objective on shares of NN in a research report on Friday, October 20th. Zacks Investment Research upgraded NN from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine cut NN from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, BidaskClub upgraded NN from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. NN has a consensus rating of “Hold” and an average target price of $34.00.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.29 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.29. The firm had revenue of $148.16 million during the quarter, compared to analyst estimates of $150.50 million. NN had a negative return on equity of 3.12% and a negative net margin of 2.79%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Thursday, November 30th. NN’s dividend payout ratio (DPR) is currently -30.77%.
In other NN news, insider Thomas C. Jr. Burwell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $32.00, for a total transaction of $64,000.00. Following the transaction, the insider now owns 35,381 shares in the company, valued at $1,132,192. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director David Floyd acquired 1,865 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were acquired at an average price of $26.98 per share, for a total transaction of $50,317.70. The disclosure for this purchase can be found here. 3.32% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of NN by 6.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 142,439 shares of the industrial products company’s stock valued at $3,910,000 after purchasing an additional 9,047 shares in the last quarter. EAM Investors LLC bought a new position in shares of NN during the 2nd quarter valued at about $768,000. JPMorgan Chase & Co. lifted its holdings in shares of NN by 130.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 143,094 shares of the industrial products company’s stock valued at $3,928,000 after purchasing an additional 81,070 shares in the last quarter. AlphaOne Investment Services LLC lifted its holdings in shares of NN by 1.1% during the 2nd quarter. AlphaOne Investment Services LLC now owns 132,642 shares of the industrial products company’s stock valued at $3,642,000 after purchasing an additional 1,400 shares in the last quarter. Finally, USA Financial Portformulas Corp bought a new position in shares of NN during the 2nd quarter valued at about $1,188,000. Institutional investors and hedge funds own 93.59% of the company’s stock.
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NN Company Profile
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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