FY2024 Earnings Forecast for NN Issued By Zacks Small Cap

NN, Inc. (NASDAQ:NNBR) – Zacks Small Cap issued their FY2024 earnings estimates for NN in a research note issued to investors on Monday, November 4th. Zacks Small Cap analyst T. Kerr anticipates that the industrial products company will earn ($0.18) per share for the year. The consensus estimate for NN’s current full-year earnings is ($0.12) per share. Zacks Small Cap also issued estimates for NN’s Q4 2024 earnings at ($0.05) EPS and FY2025 earnings at ($0.05) EPS.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. NN had a negative net margin of 8.05% and a negative return on equity of 10.61%. The business had revenue of $122.99 million for the quarter, compared to analyst estimates of $123.59 million. During the same period in the prior year, the business posted ($0.08) earnings per share.

NN Trading Up 0.9 %

Shares of NASDAQ NNBR opened at $3.44 on Wednesday. The company’s 50 day simple moving average is $3.77 and its 200 day simple moving average is $3.54. NN has a fifty-two week low of $1.97 and a fifty-two week high of $5.40. The firm has a market capitalization of $171.83 million, a P/E ratio of -3.16 and a beta of 2.96. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.96 and a quick ratio of 1.18.

Hedge Funds Weigh In On NN

Large investors have recently bought and sold shares of the business. American Century Companies Inc. raised its holdings in NN by 80.7% in the second quarter. American Century Companies Inc. now owns 642,568 shares of the industrial products company’s stock worth $1,928,000 after purchasing an additional 287,060 shares during the period. Paradigm Capital Management Inc. NY acquired a new stake in NN in the second quarter worth $1,032,000. Bank of New York Mellon Corp acquired a new stake in NN in the second quarter worth $429,000. SG Americas Securities LLC acquired a new stake in NN in the first quarter worth $53,000. Finally, Legion Partners Asset Management LLC raised its holdings in NN by 11.9% in the second quarter. Legion Partners Asset Management LLC now owns 4,791,929 shares of the industrial products company’s stock worth $14,376,000 after purchasing an additional 510,000 shares during the period. 53.92% of the stock is currently 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.