Equities analysts forecast that Modine Manufacturing Co. (NYSE:MOD) will report sales of $532.67 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Modine Manufacturing’s earnings. The lowest sales estimate is $532.30 million and the highest is $533.04 million. Modine Manufacturing reported sales of $508.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The company is scheduled to announce its next earnings report on Tuesday, October 30th.
On average, analysts expect that Modine Manufacturing will report full-year sales of $2.25 billion for the current year, with estimates ranging from $2.22 billion to $2.28 billion. For the next year, analysts forecast that the company will report sales of $2.35 billion per share, with estimates ranging from $2.30 billion to $2.43 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Modine Manufacturing.
Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, August 1st. The auto parts company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. Modine Manufacturing had a net margin of 1.26% and a return on equity of 17.01%. The business had revenue of $566.10 million for the quarter, compared to analyst estimates of $552.12 million. During the same period last year, the company posted $0.39 EPS. The business’s revenue was up 9.8% on a year-over-year basis.
MOD has been the subject of several research reports. Zacks Investment Research upgraded shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. ValuEngine downgraded shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Monday, July 2nd.
Shares of MOD stock traded down $0.60 during trading on Tuesday, hitting $17.35. 232,366 shares of the stock traded hands, compared to its average volume of 219,349. The firm has a market cap of $909.90 million, a PE ratio of 11.51 and a beta of 1.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.85 and a current ratio of 1.23. Modine Manufacturing has a 52-week low of $15.25 and a 52-week high of $25.75.
In related news, Director Larry Oscar Moore sold 5,400 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $17.80, for a total value of $96,120.00. Following the completion of the sale, the director now owns 40,259 shares in the company, valued at approximately $716,610.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.48% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of MOD. United Services Automobile Association raised its position in Modine Manufacturing by 2,224.3% during the second quarter. United Services Automobile Association now owns 2,444,646 shares of the auto parts company’s stock valued at $135,531,000 after purchasing an additional 2,339,469 shares during the period. Ontario Teachers Pension Plan Board bought a new position in shares of Modine Manufacturing during the second quarter valued at approximately $816,000. Citadel Advisors LLC grew its stake in shares of Modine Manufacturing by 295.8% during the second quarter. Citadel Advisors LLC now owns 167,950 shares of the auto parts company’s stock valued at $3,065,000 after buying an additional 125,520 shares during the last quarter. Oarsman Capital Inc. grew its stake in shares of Modine Manufacturing by 3.7% during the second quarter. Oarsman Capital Inc. now owns 221,112 shares of the auto parts company’s stock valued at $4,035,000 after buying an additional 7,795 shares during the last quarter. Finally, Globeflex Capital L P grew its stake in shares of Modine Manufacturing by 13.4% during the second quarter. Globeflex Capital L P now owns 26,986 shares of the auto parts company’s stock valued at $492,000 after buying an additional 3,191 shares during the last quarter. Hedge funds and other institutional investors own 87.10% 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- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.
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