Modine Manufacturing Company to Post Q4 2018 Earnings of $0.46 Per Share, Seaport Global Securities Forecasts (MOD)
Modine Manufacturing Company (NYSE:MOD) – Investment analysts at Seaport Global Securities boosted their Q4 2018 earnings estimates for Modine Manufacturing in a research note issued on Wednesday. Seaport Global Securities analyst M. Shlisky now forecasts that the auto parts company will post earnings per share of $0.46 for the quarter, up from their prior estimate of $0.45. Seaport Global Securities also issued estimates for Modine Manufacturing’s FY2019 earnings at $1.55 EPS.
Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.09. The company had revenue of $515.50 million for the quarter, compared to analyst estimates of $482.70 million. Modine Manufacturing had a net margin of 1.35% and a return on equity of 11.16%. Modine Manufacturing’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS.
Several other research firms also recently commented on MOD. BidaskClub downgraded shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research report on Wednesday, October 11th. TheStreet raised shares of Modine Manufacturing from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. Finally, ValuEngine raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $24.00.
Shares of Modine Manufacturing (NYSE:MOD) traded up 1.93% during trading on Thursday, hitting $21.15. 514,714 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $18.73 and its 200 day moving average is $15.72. Modine Manufacturing has a 1-year low of $9.25 and a 1-year high of $21.35. The firm has a market capitalization of $1.06 billion, a PE ratio of 45.98 and a beta of 1.23.
In other Modine Manufacturing news, insider Thomas Andrew Burke sold 84,980 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $16.19, for a total value of $1,375,826.20. Following the completion of the sale, the insider now directly owns 454,673 shares of the company’s stock, valued at $7,361,155.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.42% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Phocas Financial Corp. grew its position in Modine Manufacturing by 108.3% in the second quarter. Phocas Financial Corp. now owns 776,539 shares of the auto parts company’s stock worth $12,852,000 after acquiring an additional 403,805 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Modine Manufacturing in the second quarter worth approximately $518,000. Susquehanna International Group LLP grew its position in Modine Manufacturing by 1,385.6% in the second quarter. Susquehanna International Group LLP now owns 159,419 shares of the auto parts company’s stock worth $2,638,000 after acquiring an additional 171,819 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Modine Manufacturing by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 38,752 shares of the auto parts company’s stock worth $641,000 after acquiring an additional 1,414 shares in the last quarter. Finally, KLCM Advisors Inc. grew its position in Modine Manufacturing by 0.5% in the second quarter. KLCM Advisors Inc. now owns 767,205 shares of the auto parts company’s stock worth $12,697,000 after acquiring an additional 4,150 shares in the last quarter. 83.37% of the stock is owned by institutional investors.
About Modine Manufacturing
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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