$0.21 Earnings Per Share Expected for Modine Manufacturing Company (MOD) This Quarter
Wall Street brokerages expect that Modine Manufacturing Company (NYSE:MOD) will announce earnings per share (EPS) of $0.21 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Modine Manufacturing’s earnings. The lowest EPS estimate is $0.20 and the highest is $0.22. Modine Manufacturing reported earnings of ($0.01) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 2,200%. The firm is scheduled to announce its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Modine Manufacturing will report full-year earnings of $1.38 per share for the current fiscal year, with EPS estimates ranging from $1.35 to $1.40. For the next year, analysts expect that the company will report earnings of $1.56 per share, with EPS estimates ranging from $1.45 to $1.70. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Modine Manufacturing.
Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.39 EPS for the quarter, beating the Zacks’ 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 company had revenue of $515.50 million for the quarter, compared to analyst estimates of $482.70 million. During the same quarter last year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was up 48.5% compared to the same quarter last year.
MOD has been the topic of a number of research analyst reports. TheStreet upgraded Modine Manufacturing from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. ValuEngine upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Modine Manufacturing from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Thursday, June 1st. Finally, BidaskClub cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Modine Manufacturing currently has an average rating of “Hold” and an average target price of $17.00.
In related news, insider Thomas Andrew Burke sold 84,980 shares of the 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 sale, the insider now owns 454,673 shares in the company, valued at approximately $7,361,155.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.42% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in 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 valued at $120,000 after acquiring an additional 1,008 shares during the period. BNP Paribas Arbitrage SA increased its position in Modine Manufacturing by 118.1% during the 2nd 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 period. BB&T Securities LLC bought a new position in Modine Manufacturing during the 1st quarter worth $159,000. Karp Capital Management Corp bought a new position in Modine Manufacturing during the 1st quarter worth $164,000. Finally, Citadel Advisors LLC bought a new position in Modine Manufacturing during the 1st quarter worth $176,000. Institutional investors and hedge funds own 83.37% of the company’s stock.
Modine Manufacturing (NYSE MOD) traded up 0.151% during trading on Monday, hitting $16.575. 43,567 shares of the stock were exchanged. Modine Manufacturing has a 1-year low of $9.25 and a 1-year high of $17.85. The firm’s 50 day moving average price is $16.25 and its 200-day moving average price is $14.10. The stock has a market cap of $830.77 million, a price-to-earnings ratio of 36.033 and a beta of 1.20.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.