NN, Inc. (NASDAQ:NNBR) Expected to Post Q1 2024 Earnings of ($0.10) Per Share

NN, Inc. (NASDAQ:NNBR) – Equities research analysts at Noble Financial issued their Q1 2024 earnings per share estimates for NN in a research note issued to investors on Monday, April 15th. Noble Financial analyst J. Gomes anticipates that the industrial products company will earn ($0.10) per share for the quarter. Noble Financial currently has a “Outperform” rating and a $6.00 target price on the stock. The consensus estimate for NN’s current full-year earnings is ($0.21) per share. Noble Financial also issued estimates for NN’s Q2 2024 earnings at ($0.06) EPS, Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($0.19) EPS and FY2025 earnings at ($0.02) EPS.

Several other analysts have also issued reports on the company. TheStreet upgraded NN from a “d” rating to a “c-” rating in a report on Wednesday, February 14th. StockNews.com upgraded NN from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th.

NN Stock Up 1.8 %

Shares of NASDAQ:NNBR traded up $0.07 during midday trading on Wednesday, hitting $3.88. 192,695 shares of the stock were exchanged, compared to its average volume of 176,204. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.36 and a current ratio of 2.24. NN has a 52-week low of $0.97 and a 52-week high of $5.40. The business’s fifty day simple moving average is $4.65 and its two-hundred day simple moving average is $3.55. The company has a market capitalization of $192.21 million, a PE ratio of -2.87 and a beta of 3.02.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). NN had a negative return on equity of 9.19% and a negative net margin of 10.25%. The firm had revenue of $112.53 million for the quarter, compared to analysts’ expectations of $116.00 million.

Institutional Investors Weigh In On NN

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Legion Partners Asset Management LLC boosted its holdings in NN by 3.1% during the third quarter. Legion Partners Asset Management LLC now owns 4,333,141 shares of the industrial products company’s stock valued at $8,060,000 after purchasing an additional 130,000 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in NN during the third quarter valued at approximately $1,674,000. Register Financial Advisors LLC boosted its holdings in NN by 26.6% during the fourth quarter. Register Financial Advisors LLC now owns 862,976 shares of the industrial products company’s stock valued at $3,452,000 after purchasing an additional 181,258 shares in the last quarter. Barclays PLC boosted its holdings in NN by 703.0% during the fourth quarter. Barclays PLC now owns 17,071 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 14,945 shares in the last quarter. Finally, Wynnefield Capital Inc. acquired a new stake in NN during the second quarter valued at approximately $67,000. 53.92% of the stock is owned by institutional investors and hedge funds.

About NN

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.