NN, Inc. Expected to Earn Q2 2024 Earnings of $0.02 Per Share (NASDAQ:NNBR)

NN, Inc. (NASDAQ:NNBR) – Analysts at Sidoti Csr boosted their Q2 2024 EPS estimates for shares of NN in a research report issued on Tuesday, May 7th. Sidoti Csr analyst J. Franzreb now forecasts that the industrial products company will earn $0.02 per share for the quarter, up from their prior estimate of ($0.03). The consensus estimate for NN’s current full-year earnings is ($0.20) per share. Sidoti Csr also issued estimates for NN’s Q3 2024 earnings at ($0.03) EPS.

NNBR has been the subject of several other research reports. Noble Financial started coverage on shares of NN in a research report on Monday, April 15th. They set an “outperform” rating and a $6.00 price target for the company. StockNews.com raised shares of NN from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, TheStreet raised shares of NN from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th.

NN Trading Up 1.8 %

Shares of NNBR opened at $3.37 on Friday. The stock has a market capitalization of $166.95 million, a P/E ratio of -2.50 and a beta of 3.04. The company has a quick ratio of 1.36, a current ratio of 2.24 and a debt-to-equity ratio of 1.19. The firm has a fifty day simple moving average of $4.26 and a two-hundred day simple moving average of $3.76. NN has a twelve month low of $1.22 and a twelve month high of $5.40.

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

Institutional Investors Weigh In On NN

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of NN in the 1st quarter worth about $53,000. Fifth Lane Capital LP purchased a new stake in shares of NN in the 1st quarter worth about $53,000. Cannon Global Investment Management LLC purchased a new stake in shares of NN in the 1st quarter worth about $85,000. Victory Capital Management Inc. purchased a new stake in shares of NN in the 4th quarter worth about $140,000. Finally, J.W. Cole Advisors Inc. lifted its position in shares of NN by 80.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 90,100 shares of the industrial products company’s stock worth $360,000 after purchasing an additional 40,290 shares during the period. 53.92% of the stock is owned by hedge funds and other institutional investors.

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.