Brokers Set Expectations for NN, Inc.'s Q1 2024 Earnings (NASDAQ:NNBR)

NN, Inc. (NASDAQ:NNBR - Free Report) - Equities researchers at Noble Financial issued their Q1 2024 EPS estimates for shares of NN in a note issued to investors on Monday, April 15th. Noble Financial analyst J. Gomes forecasts that the industrial products company will earn ($0.10) per share for the quarter. Noble Financial currently has a "Outperform" rating and a $6.00 target price on the stock. The consensus estimate for NN's current full-year earnings is ($0.21) 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.

Several other equities analysts have also recently issued reports on the stock. TheStreet upgraded shares of NN from a "d" rating to a "c-" rating in a research note on Wednesday, February 14th. StockNews.com upgraded shares of NN from a "sell" rating to a "hold" rating in a research note on Wednesday, March 20th.

NN Stock Up 1.8 %

NNBR stock traded up $0.07 during trading on Wednesday, hitting $3.88. 192,695 shares of the stock traded hands, compared to its average volume of 176,351. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.24 and a quick ratio of 1.36. The stock has a market cap of $192.21 million, a price-to-earnings ratio of -2.87 and a beta of 3.02. The firm's 50 day moving average is $4.64 and its two-hundred day moving average is $3.56. NN has a 1 year low of $0.97 and a 1 year high of $5.40.

NN (NASDAQ:NNBR - Get Free Report) last released its earnings results on Monday, March 11th. The industrial products company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The business 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%.

Hedge Funds Weigh In On NN

Institutional investors have recently made changes to their positions in the business. LPL Financial LLC bought a new position in shares of NN in the 2nd quarter worth approximately $28,000. Prudential Financial Inc. purchased a new stake in NN in the 2nd quarter worth approximately $39,000. Barclays PLC increased its holdings in NN by 703.0% in the 4th quarter. Barclays PLC now owns 17,071 shares of the industrial products company's stock worth $68,000 after acquiring an additional 14,945 shares in the last quarter. Cannon Global Investment Management LLC purchased a new stake in NN in the 1st quarter worth approximately $85,000. Finally, Virtu Financial LLC purchased a new stake in NN in the 4th quarter worth approximately $104,000. Institutional investors own 53.92% of the company's stock.

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.