Research Analysts Issue Forecasts for NN, Inc.’s Q1 2024 Earnings (NASDAQ:NNBR)

NN, Inc. (NASDAQ:NNBR) – Stock analysts at Noble Financial issued their Q1 2024 earnings per share (EPS) 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 post earnings of ($0.10) per share for the quarter. Noble Financial currently has a “Outperform” rating and a $6.00 price target on the stock. The consensus estimate for NN’s current full-year earnings is ($0.20) 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.

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

A number of other brokerages have also weighed in on NNBR. StockNews.com upgraded shares of NN from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. TheStreet raised shares of NN from a “d” rating to a “c-” rating in a research note on Wednesday, February 14th.

NN Trading Up 0.5 %

NNBR opened at $3.90 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.36 and a current ratio of 2.24. The stock’s 50 day moving average price is $4.62 and its 200-day moving average price is $3.56. NN has a one year low of $0.97 and a one year high of $5.40. The stock has a market cap of $193.21 million, a price-to-earnings ratio of -2.89 and a beta of 3.02.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNBR. Nomura Holdings Inc. grew its stake in shares of NN by 1,135.5% during the first quarter. Nomura Holdings Inc. now owns 2,138,000 shares of the industrial products company’s stock worth $6,099,000 after acquiring an additional 1,964,948 shares during the last quarter. Mizuho Markets Americas LLC acquired a new stake in NN in the 3rd quarter worth approximately $1,674,000. Millennium Management LLC purchased a new stake in NN during the 2nd quarter worth approximately $1,243,000. First Manhattan Co. increased its stake in NN by 17.2% during the 4th quarter. First Manhattan Co. now owns 1,700,000 shares of the industrial products company’s stock valued at $2,550,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of NN by 128.1% in the first quarter. Renaissance Technologies LLC now owns 426,500 shares of the industrial products company’s stock worth $1,228,000 after buying an additional 239,510 shares during the last quarter. 53.92% of the stock is currently 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.