Modine Manufacturing Co. (MOD) Expected to Post Earnings of $0.32 Per Share

Share on StockTwits

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.

Featured Story: Marijuana Stocks Investing Considerations

Get a free copy of the Zacks research report on Modine Manufacturing (MOD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Modine Manufacturing (NYSE:MOD)

Receive News & Ratings for Modine Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Modine Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply