NN Inc. (NASDAQ:NNBR) – KeyCorp boosted their FY2017 earnings per share estimates for NN in a report released on Tuesday. KeyCorp analyst S. Barger now forecasts that the brokerage will post earnings per share of $2.12 for the year, up from their previous estimate of $2.00.
NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) 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 business earned $214.30 million during the quarter, compared to analyst estimates of $223.14 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year.
Other research analysts also recently issued research reports about the stock. William Blair restated a “market perform” rating and set a $15.00 price target (down previously from $18.00) on shares of NN in a research report on Friday, June 10th. Zacks Investment Research upgraded shares of NN from a “strong sell” rating to a “hold” rating and set a $23.00 price target for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $18.00.
Shares of NN (NASDAQ:NNBR) traded down 3.32% on Thursday, hitting $19.54. The company’s stock had a trading volume of 17,387 shares. The firm’s market cap is $530.02 million. The stock has a 50-day moving average price of $18.03 and a 200 day moving average price of $16.17. NN has a one year low of $10.34 and a one year high of $20.39.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.07 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.39%. NN’s payout ratio is -34.15%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in NN by 21.0% in the first quarter. Wellington Management Group LLP now owns 1,557,773 shares of the company’s stock worth $21,310,000 after buying an additional 270,391 shares during the last quarter. First Manhattan Co. acquired a new stake in NN during the second quarter worth approximately $2,937,000. Private Management Group Inc. increased its stake in NN by 16.7% in the second quarter. Private Management Group Inc. now owns 1,162,556 shares of the company’s stock worth $16,264,000 after buying an additional 166,472 shares during the last quarter. Royal Bank of Canada increased its stake in NN by 7.8% in the first quarter. Royal Bank of Canada now owns 2,263,002 shares of the company’s stock worth $30,957,000 after buying an additional 164,535 shares during the last quarter. Finally, Skyline Asset Management LP increased its stake in NN by 26.2% in the first quarter. Skyline Asset Management LP now owns 791,600 shares of the company’s stock worth $10,829,000 after buying an additional 164,500 shares during the last quarter. 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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