$0.21 Earnings Per Share Expected for Modine Manufacturing Company (MOD) This Quarter
Equities research analysts expect Modine Manufacturing Company (NYSE:MOD) to report earnings of $0.21 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Modine Manufacturing’s earnings, with estimates ranging from $0.20 to $0.22. Modine Manufacturing reported earnings per share of ($0.01) during the same quarter last year, which would suggest a positive year-over-year growth rate of 2,200%. The company is scheduled to report its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Modine Manufacturing will report full year earnings of $1.38 per share for the current year, with EPS estimates ranging from $1.35 to $1.40. For the next year, analysts anticipate that the business will post earnings of $1.56 per share, with EPS estimates ranging from $1.45 to $1.70. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Modine Manufacturing.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.09. Modine Manufacturing had a return on equity of 11.16% and a net margin of 1.35%. The company had revenue of $515.50 million for the quarter, compared to analysts’ expectations of $482.70 million. During the same quarter last year, the business earned $0.23 earnings per share. Modine Manufacturing’s revenue was up 48.5% on a year-over-year basis.
A number of analysts recently issued reports on MOD shares. BidaskClub raised Modine Manufacturing from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet raised Modine Manufacturing from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Finally, ValuEngine raised Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $17.00.
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In related news, VP Scott D. Wollenberg sold 5,736 shares of the stock in a transaction dated Thursday, June 1st. The stock was 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 SEC, which is available at the SEC website. Corporate insiders own 4.42% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Modine Manufacturing during the fourth quarter worth $2,022,000. Highbridge Capital Management LLC acquired a new position in shares of Modine Manufacturing during the fourth quarter worth $281,000. DnB Asset Management AS raised its position in shares of Modine Manufacturing by 22.9% in the first quarter. DnB Asset Management AS now owns 1,334,355 shares of the auto parts company’s stock worth $16,279,000 after buying an additional 248,371 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Modine Manufacturing during the first quarter worth $1,945,000. Finally, Kirr Marbach & Co. LLC IN acquired a new position in shares of Modine Manufacturing during the first quarter worth $268,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.
Modine Manufacturing (NYSE MOD) opened at 15.90 on Thursday. Modine Manufacturing has a 12 month low of $9.25 and a 12 month high of $17.85. The company has a market cap of $796.94 million, a PE ratio of 34.57 and a beta of 1.20. The company has a 50 day moving average price of $16.52 and a 200-day moving average price of $13.71.
About Modine Manufacturing
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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