Brokerages Anticipate Modine Manufacturing Company (MOD) Will Announce Earnings of $0.22 Per Share
Wall Street brokerages forecast that Modine Manufacturing Company (NYSE:MOD) will announce earnings of $0.22 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Modine Manufacturing’s earnings, with the lowest EPS estimate coming in at $0.20 and the highest estimate coming in at $0.23. Modine Manufacturing posted earnings per share of ($0.01) in the same quarter last year, which indicates a positive year-over-year growth rate of 2,300%. The business is expected to issue its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Modine Manufacturing will report full year earnings of $1.40 per share for the current year, with EPS estimates ranging from $1.35 to $1.45. For the next financial year, analysts expect that the company will report earnings of $1.59 per share, with EPS estimates ranging from $1.45 to $1.78. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Modine Manufacturing.
Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $515.50 million for the quarter, compared to the consensus estimate of $482.70 million. During the same period in the previous year, the business earned $0.23 earnings per share. The business’s revenue was up 48.5% on a year-over-year basis.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a research note on Wednesday. BidaskClub raised shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. TheStreet raised shares of Modine Manufacturing from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Finally, ValuEngine raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $24.00.
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Modine Manufacturing (MOD) opened at 20.95 on Thursday. Modine Manufacturing has a 12 month low of $9.25 and a 12 month high of $21.00. The stock has a market capitalization of $1.05 billion, a P/E ratio of 45.54 and a beta of 1.23. The stock has a 50 day moving average price of $17.91 and a 200 day moving average price of $15.35.
In related news, insider Thomas Andrew Burke sold 84,980 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $16.19, for a total value of $1,375,826.20. Following the transaction, the insider now directly owns 454,673 shares of the company’s stock, valued at approximately $7,361,155.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.42% of the company’s stock.
A number of institutional investors have recently modified their holdings of MOD. Wedge Capital Management L L P NC purchased a new position in Modine Manufacturing in the 2nd quarter valued at about $16,405,000. Royce & Associates LP purchased a new position in Modine Manufacturing in the 1st quarter valued at about $10,612,000. Thrivent Financial For Lutherans purchased a new position in Modine Manufacturing in the 1st quarter valued at about $7,489,000. Ionic Capital Management LLC purchased a new position in Modine Manufacturing in the 1st quarter valued at about $6,214,000. Finally, Phocas Financial Corp. lifted its stake in Modine Manufacturing by 108.3% in the 2nd quarter. Phocas Financial Corp. now owns 776,539 shares of the auto parts company’s stock valued at $12,852,000 after buying an additional 403,805 shares in the last quarter. 83.37% of the stock is currently owned by hedge funds and other institutional investors.
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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