NN, Inc. (NASDAQ:NNBR) to Post Q1 2024 Earnings of ($0.10) Per Share, Noble Financial Forecasts

NN, Inc. (NASDAQ:NNBR) – Equities researchers at Noble Financial issued their Q1 2024 earnings per share (EPS) estimates for NN in a research note issued 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 has a “Outperform” rating and a $6.00 price objective 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.

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

NN Trading Up 0.5 %

Shares of NNBR opened at $3.90 on Wednesday. The stock’s fifty day simple moving average is $4.62 and its 200-day simple moving average is $3.56. The company has a quick ratio of 1.36, a current ratio of 2.24 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $193.21 million, a PE ratio of -2.89 and a beta of 3.02. NN has a 12-month low of $0.97 and a 12-month high of $5.40.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $112.53 million for the quarter, compared to analyst estimates of $116.00 million. NN had a negative return on equity of 9.19% and a negative net margin of 10.25%.

Institutional Trading of NN

Institutional investors and hedge funds have recently modified their holdings of the stock. Nomura Holdings Inc. boosted its stake in shares of NN by 1,135.5% during the 1st 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 period. Mizuho Markets Americas LLC acquired a new stake in shares of NN during the 3rd quarter worth about $1,674,000. Millennium Management LLC bought a new stake in shares of NN during the 2nd quarter worth about $1,243,000. First Manhattan Co. boosted its holdings in shares of NN by 17.2% during the 4th quarter. First Manhattan Co. now owns 1,700,000 shares of the industrial products company’s stock worth $2,550,000 after buying an additional 250,000 shares during the period. Finally, Renaissance Technologies LLC grew its stake in NN by 128.1% in the 1st quarter. Renaissance Technologies LLC now owns 426,500 shares of the industrial products company’s stock valued at $1,228,000 after buying an additional 239,510 shares during the last quarter. 53.92% of the stock is owned by institutional investors.

NN Company Profile

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.