NN, Inc. (NASDAQ:NNBR) – Investment analysts at KeyCorp lowered their FY2017 EPS estimates for NN in a research note issued on Tuesday. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings of $1.65 per share for the year, down from their previous forecast of $1.90. KeyCorp also issued estimates for NN’s Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.47 EPS and Q4 2018 earnings at $0.44 EPS.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. NN had a net margin of 2.00% and a return on equity of 14.04%. The business had revenue of $226.31 million for the quarter, compared to analysts’ expectations of $215.86 million. TRADEMARK VIOLATION WARNING: “FY2017 Earnings Estimate for NN, Inc. Issued By KeyCorp (NASDAQ:NNBR)” was originally posted by BBNS and is owned by of BBNS. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://baseballnewssource.com/markets/fy2017-earnings-estimate-for-nn-inc-issued-by-keycorp-nasdaqnnbr/1181172.html.
NNBR has been the subject of a number of other reports. ValuEngine raised NN from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded NN from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. SunTrust Banks, Inc. started coverage on NN in a report on Thursday, June 15th. They issued a “buy” rating and a $37.00 price target for the company. They noted that the move was a valuation call. TheStreet raised NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. Finally, William Blair reissued a “market perform” rating on shares of NN in a report on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $30.67.
Shares of NN (NNBR) opened at 29.35 on Wednesday. The company has a market capitalization of $806.10 million, a PE ratio of 48.11 and a beta of 0.63. The stock has a 50 day moving average of $28.30 and a 200-day moving average of $23.72. NN has a 12-month low of $13.43 and a 12-month high of $31.65.
Several large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the last quarter. Bank of Montreal Can purchased a new stake in NN during the first quarter valued at $162,000. Highbridge Capital Management LLC purchased a new stake in NN during the fourth quarter valued at $220,000. US Bancorp DE increased its stake in NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock valued at $356,000 after buying an additional 1,127 shares during the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, May 31st. NN’s payout ratio is currently 45.90%.
NN Company Profile
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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