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 report issued to clients and investors on Monday, April 15th. Noble Financial analyst J. Gomes forecasts that the industrial products company will post earnings per share of ($0.10) 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 research analysts also recently commented on NNBR. StockNews.com raised NN from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. TheStreet upgraded shares of NN from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th.

NN Stock Up 1.8 %

NASDAQ NNBR opened at $3.88 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 1.36 and a debt-to-equity ratio of 1.19. The stock’s 50 day moving average is $4.64 and its two-hundred day moving average is $3.56. The company has a market capitalization of $192.21 million, a price-to-earnings ratio of -2.87 and a beta of 3.02. NN has a 1-year low of $0.97 and a 1-year high of $5.40.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.10) EPS 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 the consensus estimate 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

A number of large investors have recently modified their holdings of NNBR. Bank of America Corp DE raised its holdings in NN by 4.9% in the 1st quarter. Bank of America Corp DE now owns 152,372 shares of the industrial products company’s stock valued at $438,000 after acquiring an additional 7,122 shares during the period. BlackRock Inc. increased its holdings in shares of NN by 0.9% during the second quarter. BlackRock Inc. now owns 768,966 shares of the industrial products company’s stock worth $1,838,000 after purchasing an additional 7,205 shares during the period. LPL Financial LLC bought a new position in shares of NN during the second quarter worth approximately $28,000. Price T Rowe Associates Inc. MD increased its holdings in shares of NN by 27.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 67,320 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 14,400 shares during the period. Finally, Barclays PLC increased its holdings in shares of NN by 703.0% during the fourth quarter. Barclays PLC now owns 17,071 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 14,945 shares during the period. 53.92% of the stock is currently owned by institutional investors and hedge funds.

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.