Modine Manufacturing (NYSE:MOD) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Modine Manufacturing (NYSE:MOD) released its earnings results on Tuesday. The auto parts company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.10), FiscalAI reports. The firm had revenue of $994.40 million during the quarter, compared to the consensus estimate of $978.31 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. During the same period in the prior year, the business posted $0.83 earnings per share.

Modine Manufacturing Trading Up 2.3%

MOD traded up $2.78 on Tuesday, hitting $126.12. 4,439,590 shares of the company were exchanged, compared to its average volume of 1,404,215. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The stock has a market capitalization of $6.70 billion, a PE ratio of 47.41, a price-to-earnings-growth ratio of 0.51 and a beta of 1.71. Modine Manufacturing has a 12 month low of $111.18 and a 12 month high of $323.25. The firm has a fifty day simple moving average of $173.06 and a two-hundred day simple moving average of $214.76.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MOD shares. Oppenheimer reduced their price target on shares of Modine Manufacturing from $300.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday, October 2nd. Zacks Research lowered Modine Manufacturing from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. KeyCorp reiterated an “overweight” rating and set a $280.00 price target on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Robert W. Baird began coverage on Modine Manufacturing in a research report on Tuesday, October 6th. They set an “outperform” rating and a $300.00 price objective for the company. Finally, DA Davidson reissued a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research note on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $303.44.

About Modine Manufacturing

Modine Manufacturing Company (NYSE: MOD) is a diversified thermal management company that develops and manufactures solutions for managing heat in vehicles, equipment, buildings and industrial systems. Its products are designed to improve efficiency, reliability and performance across a range of applications.

The company serves the automotive, commercial vehicle, off-highway, power generation, data center, heating, ventilation, air conditioning and refrigeration markets. Its offerings include heat exchangers, radiators, charge air coolers, battery and power electronics cooling systems, liquid-cooling equipment, coils and other thermal management components and systems.

Founded in 1916 by Arthur B.