FY2019 Earnings Estimate for Modine Manufacturing Company Issued By Gabelli (NYSE:MOD)
Modine Manufacturing Company (NYSE:MOD) – Gabelli cut their FY2019 earnings per share (EPS) estimates for shares of Modine Manufacturing in a report issued on Thursday. Gabelli analyst M. Paige now expects that the auto parts company will post earnings per share of $1.45 for the year, down from their previous estimate of $1.50. Gabelli also issued estimates for Modine Manufacturing’s FY2020 earnings at $1.75 EPS and FY2021 earnings at $2.00 EPS.
MOD has been the subject of a number of other reports. BidaskClub upgraded Modine Manufacturing from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research upgraded Modine Manufacturing from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Thursday, June 1st. ValuEngine cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Finally, TheStreet upgraded Modine Manufacturing from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $17.00.
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Modine Manufacturing (NYSE MOD) traded down 1.18% during mid-day trading on Monday, reaching $16.75. The company had a trading volume of 102,900 shares. The stock has a 50 day moving average price of $16.55 and a 200-day moving average price of $13.49. The stock has a market capitalization of $839.16 million, a P/E ratio of 36.26 and a beta of 1.20. Modine Manufacturing has a 12-month low of $9.25 and a 12-month high of $17.38.
Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.09. The business had revenue of $515.50 million for the quarter, compared to analyst estimates of $482.70 million. Modine Manufacturing had a return on equity of 11.16% and a net margin of 1.35%. Modine Manufacturing’s revenue was up 48.5% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share.
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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.42% of the company’s stock.
Large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in shares of Modine Manufacturing by 11.5% in the first quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock valued at $120,000 after buying an additional 1,008 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Modine Manufacturing by 118.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the auto parts company’s stock valued at $155,000 after buying an additional 5,067 shares in the last quarter. BB&T Securities LLC bought a new stake in shares of Modine Manufacturing during the first quarter valued at $159,000. Karp Capital Management Corp bought a new stake in shares of Modine Manufacturing during the first quarter valued at $164,000. Finally, Citadel Advisors LLC bought a new stake in shares of Modine Manufacturing during the first quarter valued at $176,000. Institutional investors own 82.79% of the company’s stock.
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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