S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68

NN, Inc. (NASDAQ:NNBR) Forecasted to Earn Q2 2022 Earnings of $0.03 Per Share

Last updated on Saturday, May 14, 2022 | 2022 MarketBeat

NN, Inc. (NASDAQ:NNBR - Get Rating) - Investment analysts at KeyCorp dropped their Q2 2022 earnings per share estimates for NN in a report issued on Tuesday, May 10th. KeyCorp analyst S. Barger now anticipates that the industrial products company will post earnings of $0.03 per share for the quarter, down from their prior estimate of $0.05. KeyCorp also issued estimates for NN's Q3 2022 earnings at $0.08 EPS, FY2022 earnings at $0.19 EPS, Q1 2023 earnings at $0.08 EPS, Q2 2023 earnings at $0.10 EPS, Q3 2023 earnings at $0.13 EPS and Q4 2023 earnings at $0.13 EPS.

Separately, StockNews.com initiated coverage on NN in a research report on Thursday, March 31st. They set a "hold" rating on the stock.

Shares of NASDAQ NNBR opened at $2.37 on Thursday. The company has a current ratio of 2.37, a quick ratio of 1.64 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $104.02 million, a PE ratio of -5.04 and a beta of 2.85. The stock's fifty day simple moving average is $2.81 and its two-hundred day simple moving average is $3.70. NN has a 12-month low of $2.28 and a 12-month high of $9.62. NN (NASDAQ:NNBR - Get Rating) last announced its earnings results on Thursday, March 10th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.05. The business had revenue of $110.38 million for the quarter, compared to analysts' expectations of $110.90 million. NN had a negative return on equity of 0.30% and a negative net margin of 2.43%. During the same quarter last year, the firm earned $0.17 EPS.

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in NN during the 4th quarter worth about $5,969,000. Parametric Portfolio Associates LLC grew its position in shares of NN by 94.0% during the 4th quarter. Parametric Portfolio Associates LLC now owns 727,379 shares of the industrial products company's stock valued at $2,982,000 after acquiring an additional 352,430 shares during the period. Invenomic Capital Management LP acquired a new stake in shares of NN during the 4th quarter valued at about $1,235,000. Renaissance Technologies LLC grew its position in shares of NN by 128.1% during the 1st quarter. Renaissance Technologies LLC now owns 426,500 shares of the industrial products company's stock valued at $1,228,000 after acquiring an additional 239,510 shares during the period. Finally, Easterly Investment Partners LLC acquired a new stake in NN in the 3rd quarter worth about $1,021,000. Institutional investors own 84.34% of the company's stock.

In other NN news, Director Thomas Hampton Jr. Wilson acquired 18,800 shares of the firm's stock in a transaction dated Tuesday, March 22nd. The stock was purchased at an average price of $2.90 per share, for a total transaction of $54,520.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Corre Partners Management, Llc acquired 274,619 shares of the firm's stock in a transaction dated Tuesday, April 19th. The shares were acquired at an average price of $2.60 per share, with a total value of $714,009.40. Following the acquisition, the insider now owns 4,042,949 shares in the company, valued at approximately $10,511,667.40. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 362,914 shares of company stock valued at $959,641. Company insiders own 2.09% of the company's stock.

About NN (Get Rating)

NN, Inc, a diversified industrial company, designs, manufactures, and sells high-precision components and assemblies. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for general industrial and automotive end markets.

See Also

Earnings History and Estimates for NN (NASDAQ:NNBR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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