NN (NASDAQ:NNBR) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• NN reported quarterly EPS of $0.07, exceeding the consensus estimate of $0.02 by $0.05. Despite positive return on equity of 20.38%, the company posted a negative net margin of 6.21%.
• NN shares rose to $3.80 in mid-day trading, with the stock trading near its 12-month high of $4.79. The company has significant leverage, reflected in a debt-to-equity ratio of 7.70.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $5.67; individual targets from Craig Hallum and Lake Street Capital reached $7.00.

NN (NASDAQ:NNBR - Get Free Report) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05, Zacks reports. NN had a positive return on equity of 20.38% and a negative net margin of 6.21%.

NN Price Performance

NN stock traded up $0.29 during mid-day trading on Wednesday, reaching $3.80. 3,037,166 shares of the company's stock traded hands, compared to its average volume of 1,973,597. The company has a market cap of $356.23 million, a price-to-earnings ratio of -3.96 and a beta of 2.65. The stock has a 50 day moving average of $3.63 and a two-hundred day moving average of $2.67. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 7.70. NN has a 12-month low of $1.10 and a 12-month high of $4.79.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Zacks Research raised NN from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 9th. Weiss Ratings restated a "sell (d-)" rating on shares of NN in a research note on Thursday, October 15th. Craig Hallum assumed coverage on shares of NN in a report on Monday, July 20th. They set a "buy" rating and a $7.00 price objective for the company. Wall Street Zen upgraded shares of NN from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Finally, Lake Street Capital reissued a "buy" rating and issued a $7.00 target price on shares of NN in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.67.

NN Company Profile

NN, Inc NASDAQ: NNBR is a diversified industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, electrical, industrial, aerospace, and medical markets. Its products are designed for applications that require precision, durability, and consistent performance.

The company's manufacturing capabilities have included precision machining, metal forming, plastic injection molding, and the production of complex assemblies. NN, Inc has supplied components used in systems such as automotive powertrains, electrical and industrial equipment, medical devices, and other specialized products.

Founded in 1980 as NN Ball & Roller, the company expanded beyond its original bearing-component operations through acquisitions and later adopted the NN, Inc name.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.