Q4 2019 EPS Estimates for NN, Inc. Reduced by Analyst (NASDAQ:NNBR)

NN, Inc. (NASDAQ:NNBR) – Investment analysts at KeyCorp reduced their Q4 2019 earnings per share (EPS) estimates for NN in a report released on Sunday, November 10th. KeyCorp analyst S. Barger now anticipates that the industrial products company will earn $0.13 per share for the quarter, down from their previous forecast of $0.29. KeyCorp also issued estimates for NN’s Q3 2020 earnings at $0.38 EPS.

NN (NASDAQ:NNBR) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The company had revenue of $213.90 million during the quarter, compared to the consensus estimate of $216.32 million. NN had a positive return on equity of 9.97% and a negative net margin of 29.60%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.30 EPS.

Other equities research analysts have also recently issued research reports about the stock. William Blair raised shares of NN from a “market perform” rating to an “outperform” rating in a report on Monday. Zacks Investment Research raised shares of NN from a “sell” rating to a “hold” rating in a report on Friday, October 11th. ValuEngine cut shares of NN from a “sell” rating to a “strong sell” rating in a report on Friday, November 8th. Finally, BidaskClub raised shares of NN from a “hold” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.25.

NASDAQ:NNBR opened at $9.41 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.27 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $371.77 million, a PE ratio of 8.04 and a beta of 1.71. The firm’s 50 day moving average is $7.24 and its 200 day moving average is $7.80. NN has a 12 month low of $5.55 and a 12 month high of $11.70.

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in NN by 41.4% during the 2nd quarter. Victory Capital Management Inc. now owns 203,500 shares of the industrial products company’s stock valued at $1,986,000 after acquiring an additional 59,600 shares during the period. Primecap Management Co. CA raised its holdings in NN by 0.9% during the 2nd quarter. Primecap Management Co. CA now owns 6,352,900 shares of the industrial products company’s stock valued at $62,004,000 after acquiring an additional 58,900 shares during the period. BlackRock Inc. raised its holdings in NN by 2.1% during the 2nd quarter. BlackRock Inc. now owns 3,026,811 shares of the industrial products company’s stock valued at $29,541,000 after acquiring an additional 63,287 shares during the period. Aperio Group LLC raised its holdings in NN by 40.3% during the 2nd quarter. Aperio Group LLC now owns 32,329 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 9,281 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in NN by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 488,066 shares of the industrial products company’s stock valued at $4,764,000 after acquiring an additional 6,816 shares during the period. 93.49% of the stock is currently owned by institutional investors and hedge funds.

About NN

NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.

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Earnings History and Estimates for NN (NASDAQ:NNBR)

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