Modine Manufacturing Co. (MOD) Updates FY14 Earnings Guidance
Modine Manufacturing Co. (NYSE:MOD) issued an update on its FY14 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.65-0.60 for the period, compared to the Thomson Reuters consensus estimate of $0.56, Analyst Ratings Network reports. The company issued revenue guidance of +5-8% YoY to ~$1.45-1.47 billion, compared to the consensus revenue estimate of $1.46 billion.
Shares of Modine Manufacturing Co. (NYSE:MOD) traded up 11.51% on Friday, hitting $13.2025. 380,277 shares of the company’s stock traded hands. Modine Manufacturing Co. has a 52 week low of $8.02 and a 52 week high of $15.17. The stock’s 50-day moving average is $12.37 and its 200-day moving average is $13.17. The company has a market cap of $628.1 million and a P/E ratio of 149.87.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.10. The company had revenue of $347.00 million for the quarter, compared to the consensus estimate of $353.27 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that Modine Manufacturing Co. will post $0.59 EPS for the current fiscal year.
A number of research firms have recently commented on MOD. Analysts at JPMorgan Chase & Co. upgraded shares of Modine Manufacturing from an underweight rating to a neutral rating in a research note to investors on Thursday. They now have a $11.00 price target on the stock. They noted that the move was a valuation call. On a related note, analysts at Zacks upgraded shares of Modine Manufacturing from a neutral rating to an outperform rating in a research note to investors on Monday, January 6th. They now have a $15.40 price target on the stock. Finally, analysts at Global Hunter Securities raised their price target on shares of Modine Manufacturing to $13.00 in a research note to investors on Monday, November 4th. They now have a neutral rating on the stock.
Modine Manufacturing Company (NYSE:MOD), specializes in thermal management systems and components, bringing heating and cooling technology and solutions to global markets.
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