Modine Manufacturing Company (NYSE:MOD) – Research analysts at Seaport Global Securities cut their Q3 2018 earnings per share estimates for Modine Manufacturing in a research note issued on Wednesday. Seaport Global Securities analyst M. Shlisky now anticipates that the auto parts company will earn $0.36 per share for the quarter, down from their prior estimate of $0.38.

A number of other research firms have also weighed in on MOD. BidaskClub raised Modine Manufacturing from a “sell” rating to a “hold” rating in a report on Saturday. TheStreet raised Modine Manufacturing from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. ValuEngine raised Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research raised 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. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $17.00.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright and trademark laws. The original version of this piece of content can be read at https://www.dailypolitical.com/2017/08/08/q3-2018-eps-estimates-for-modine-manufacturing-company-mod-reduced-by-seaport-global-securities.html.

Modine Manufacturing (NYSE:MOD) traded up 0.147% during midday trading on Monday, reaching $16.975. 65,676 shares of the company traded hands. The firm has a 50-day moving average price of $16.55 and a 200-day moving average price of $13.49. The firm has a market capitalization of $850.43 million, a price-to-earnings ratio of 36.742 and a beta of 1.20. Modine Manufacturing has a one year low of $9.25 and a one year high of $17.38.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.09. Modine Manufacturing had a net margin of 1.35% and a return on equity of 11.16%. The business had revenue of $515.50 million during the quarter, compared to analysts’ expectations of $482.70 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. Modine Manufacturing’s revenue was up 48.5% compared to the same quarter last year.

A number of hedge funds have recently added to or reduced their stakes in MOD. Bank of America Corp DE increased its stake in 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 worth $120,000 after buying an additional 1,008 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in 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 worth $155,000 after buying an additional 5,067 shares during the last quarter. BB&T Securities LLC purchased a new stake in Modine Manufacturing during the first quarter worth $159,000. Karp Capital Management Corp purchased a new stake in Modine Manufacturing during the first quarter worth $164,000. Finally, Citadel Advisors LLC purchased a new stake in Modine Manufacturing during the first quarter worth $176,000. Institutional investors own 82.79% of the company’s stock.

In other news, VP Scott D. Wollenberg sold 5,736 shares of the business’s 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.42% of the stock is currently owned by insiders.

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.

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

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