Wall Street analysts forecast that Modine Manufacturing Co. (NYSE:MOD) will report earnings per share (EPS) of $0.32 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Modine Manufacturing’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.32. Modine Manufacturing reported earnings per share of $0.36 in the same quarter last year, which suggests a negative year over year growth rate of 11.1%. The business is expected to issue its next earnings results on Tuesday, October 30th.
On average, analysts expect that Modine Manufacturing will report full year earnings of $1.59 per share for the current fiscal year, with EPS estimates ranging from $1.55 to $1.62. For the next financial year, analysts anticipate that the business will post earnings of $1.87 per share, with EPS estimates ranging from $1.80 to $1.92. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Modine Manufacturing.
Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. The business had revenue of $566.10 million during the quarter, compared to the consensus estimate of $552.12 million. Modine Manufacturing had a return on equity of 17.01% and a net margin of 1.26%. Modine Manufacturing’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share.
MOD has been the subject of a number of analyst reports. ValuEngine downgraded Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research lowered Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Thursday, May 31st.
In other news, Director Larry Oscar Moore sold 5,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $17.80, for a total transaction of $96,120.00. Following the transaction, the director now directly owns 40,259 shares in the company, valued at approximately $716,610.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.48% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in Modine Manufacturing by 11.1% in the first quarter. BlackRock Inc. now owns 4,182,069 shares of the auto parts company’s stock valued at $88,452,000 after acquiring an additional 418,061 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Modine Manufacturing by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,143,892 shares of the auto parts company’s stock worth $75,626,000 after purchasing an additional 67,641 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Modine Manufacturing by 0.8% during the 1st quarter. Frontier Capital Management Co. LLC now owns 4,059,757 shares of the auto parts company’s stock worth $85,864,000 after purchasing an additional 30,634 shares in the last quarter. United Services Automobile Association increased its stake in shares of Modine Manufacturing by 2,224.3% during the 2nd quarter. United Services Automobile Association now owns 2,444,646 shares of the auto parts company’s stock worth $135,531,000 after purchasing an additional 2,339,469 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Modine Manufacturing by 4.4% during the 2nd quarter. LSV Asset Management now owns 1,632,439 shares of the auto parts company’s stock worth $29,792,000 after purchasing an additional 68,262 shares in the last quarter. Institutional investors and hedge funds own 87.10% of the company’s stock.
Modine Manufacturing traded down $0.60, reaching $17.35, during midday trading on Friday, Marketbeat.com reports. The company had a trading volume of 232,366 shares, compared to its average volume of 219,349. The company has a market cap of $909.90 million, a PE ratio of 11.51 and a beta of 1.38. Modine Manufacturing has a 1-year low of $15.25 and a 1-year high of $25.75. The company has a quick ratio of 0.85, a current ratio of 1.23 and a debt-to-equity ratio of 0.76.
Modine Manufacturing Company Profile
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.
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