NN (NNBR) Set to Announce Earnings on Thursday

NN (NASDAQ:NNBRGet Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, May 5th. Analysts expect the company to announce earnings of $0.01 per share for the quarter. NN has set its FY 2022 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

NN (NASDAQ:NNBRGet Rating) last released its quarterly earnings results on Thursday, March 10th. The industrial products company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. NN had a positive return on equity of 0.75% and a negative net margin of 2.77%. The company had revenue of $110.38 million for the quarter, compared to analysts’ expectations of $110.90 million. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, analysts expect NN to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

NNBR opened at $2.90 on Thursday. NN has a 52 week low of $2.28 and a 52 week high of $9.62. The company has a quick ratio of 1.64, a current ratio of 2.65 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $2.75 and a 200-day simple moving average of $3.85. The firm has a market cap of $127.28 million, a P/E ratio of -3.63 and a beta of 3.13.

In related 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 acquired at an average price of $2.90 per share, for a total transaction of $54,520.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Corre Partners Management, Llc acquired 274,619 shares of the firm’s stock in a transaction dated Tuesday, April 19th. The stock was bought at an average price of $2.60 per share, with a total value of $714,009.40. Following the purchase, the insider now directly owns 4,042,949 shares in the company, valued at approximately $10,511,667.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 362,914 shares of company stock valued at $959,641 over the last 90 days. 2.09% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley boosted its stake in shares of NN by 370.6% in the 2nd quarter. Morgan Stanley now owns 61,386 shares of the industrial products company’s stock valued at $451,000 after buying an additional 48,343 shares during the period. Millennium Management LLC acquired a new stake in shares of NN during the 2nd quarter worth about $333,000. Invesco Ltd. raised its position in shares of NN by 6.5% during the 3rd quarter. Invesco Ltd. now owns 62,161 shares of the industrial products company’s stock worth $326,000 after acquiring an additional 3,794 shares in the last quarter. Citadel Advisors LLC raised its position in shares of NN by 117.2% during the 4th quarter. Citadel Advisors LLC now owns 67,542 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 36,442 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of NN by 81.8% during the 4th quarter. JPMorgan Chase & Co. now owns 67,489 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 30,374 shares in the last quarter. Institutional investors and hedge funds own 87.15% of the company’s stock.

NNBR has been the topic of several research reports. StockNews.com initiated coverage on NN in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded NN from a “sell” rating to a “hold” rating in a report on Saturday, January 8th.

NN Company Profile (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 for NN (NASDAQ:NNBR)

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