Seaport Global Securities Weighs in on Modine Manufacturing Company’s Q3 2018 Earnings (NYSE:MOD)
Modine Manufacturing Company (NYSE:MOD) – Investment analysts at Seaport Global Securities dropped their Q3 2018 earnings estimates for shares of Modine Manufacturing in a report released on Wednesday. Seaport Global Securities analyst M. Shlisky now expects that the auto parts company will earn $0.36 per share for the quarter, down from their prior forecast of $0.38.
A number of other research analysts have also issued reports on MOD. ValuEngine upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. BidaskClub lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, TheStreet upgraded shares of Modine Manufacturing from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $17.00.
Shares of Modine Manufacturing (MOD) opened at 17.20 on Monday. Modine Manufacturing has a 52 week low of $9.25 and a 52 week high of $17.38. The stock’s 50 day moving average is $16.55 and its 200 day moving average is $13.49. The stock has a market capitalization of $861.70 million, a PE ratio of 37.23 and a beta of 1.20.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.09. The company had revenue of $515.50 million during the quarter, compared to the consensus estimate of $482.70 million. Modine Manufacturing had a return on equity of 11.16% and a net margin of 1.35%. Modine Manufacturing’s revenue was up 48.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in shares of Modine Manufacturing by 118.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the auto parts company’s stock worth $155,000 after buying an additional 5,067 shares in the last quarter. Bank of America Corp DE raised its stake in Modine Manufacturing by 11.5% in the first quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock valued at $120,000 after buying an additional 1,008 shares during the period. BB&T Securities LLC purchased a new stake in Modine Manufacturing during the first quarter valued at about $159,000. Karp Capital Management Corp purchased a new stake in Modine Manufacturing during the first quarter valued at about $164,000. Finally, Aperio Group LLC raised its stake in Modine Manufacturing by 0.6% in the second quarter. Aperio Group LLC now owns 13,495 shares of the auto parts company’s stock valued at $223,000 after buying an additional 78 shares during the period. Institutional investors own 82.79% of the company’s stock.
In related news, VP Scott D. Wollenberg sold 5,736 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $15.95, for a total transaction of $91,489.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.42% of the stock is currently owned by insiders.
Modine Manufacturing Company Profile
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.
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