Zacks: Analysts Expect Modine Manufacturing Company (MOD) Will Announce Earnings of $0.22 Per Share
Equities analysts expect Modine Manufacturing Company (NYSE:MOD) to announce $0.22 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Modine Manufacturing’s earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at $0.20. Modine Manufacturing reported 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 scheduled to announce its next quarterly earnings results after the market closes on Tuesday, October 31st.
According to Zacks, analysts expect that Modine Manufacturing will report full-year earnings of $1.40 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.45. For the next fiscal 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’ EPS calculations are a mean average based on a survey of research firms that cover Modine Manufacturing.
Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.09. The business 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%. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 earnings per share.
Several equities research analysts have weighed in on the company. BidaskClub upgraded 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. ValuEngine upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, TheStreet upgraded Modine Manufacturing from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Modine Manufacturing currently has a consensus rating of “Buy” and a consensus price target of $24.00.
In other news, insider Thomas Andrew Burke sold 84,980 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $16.19, for a total value of $1,375,826.20. Following the completion of the transaction, the insider now directly owns 454,673 shares of the company’s stock, valued at approximately $7,361,155.87. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.42% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MOD. Bank of America Corp DE raised its position in shares of Modine Manufacturing by 11.5% in the 1st quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock worth $120,000 after acquiring an additional 1,008 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Modine Manufacturing by 118.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the auto parts company’s stock worth $155,000 after acquiring an additional 5,067 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Modine Manufacturing in the 1st quarter worth $164,000. Citadel Advisors LLC bought a new position in shares of Modine Manufacturing in the 1st quarter worth $176,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Modine Manufacturing in the 2nd quarter worth $215,000. 81.13% of the stock is owned by hedge funds and other institutional investors.
Modine Manufacturing (NYSE MOD) opened at 20.65 on Tuesday. The company has a market cap of $1.04 billion, a P/E ratio of 44.89 and a beta of 1.22. The firm has a 50-day moving average price of $19.57 and a 200-day moving average price of $16.31. Modine Manufacturing has a 12-month low of $9.25 and a 12-month high of $21.65.
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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