Wall Street analysts expect that Modine Manufacturing (NYSE:MOD) will post $0.40 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Modine Manufacturing’s earnings. Modine Manufacturing reported earnings of $0.35 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 14.3%. The business is expected to report its next earnings report after the market closes on Wednesday, May 23rd.
According to Zacks, analysts expect that Modine Manufacturing will report full-year earnings of $1.50 per share for the current year, with EPS estimates ranging from $1.49 to $1.51. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.73 per share, with EPS estimates ranging from $1.65 to $1.77. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Modine Manufacturing.
A number of research analysts have recently weighed in on the company. ValuEngine cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Saturday, February 3rd.
In related news, VP Matthew J. Mcburney sold 2,379 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $25.05, for a total value of $59,593.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marsha C. Williams sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $20.91, for a total value of $313,650.00. Following the completion of the transaction, the director now directly owns 84,541 shares in the company, valued at $1,767,752.31. The disclosure for this sale can be found here. 4.42% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Modine Manufacturing by 14.6% in the 4th quarter. BlackRock Inc. now owns 3,764,008 shares of the auto parts company’s stock worth $76,032,000 after acquiring an additional 479,011 shares during the last quarter. Millennium Management LLC increased its stake in Modine Manufacturing by 81.4% in the 4th quarter. Millennium Management LLC now owns 1,067,335 shares of the auto parts company’s stock worth $21,560,000 after acquiring an additional 478,987 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Modine Manufacturing in the 1st quarter worth approximately $7,434,000. Penn Capital Management Co. Inc. increased its stake in Modine Manufacturing by 121.0% in the 1st quarter. Penn Capital Management Co. Inc. now owns 599,525 shares of the auto parts company’s stock worth $12,692,000 after acquiring an additional 328,238 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Modine Manufacturing by 1,029.6% in the 1st quarter. Prudential Financial Inc. now owns 273,533 shares of the auto parts company’s stock worth $5,785,000 after acquiring an additional 249,317 shares during the last quarter. 85.40% of the stock is currently owned by institutional investors.
Shares of Modine Manufacturing traded up $0.15, reaching $18.30, during trading hours on Thursday, Marketbeat reports. 164,514 shares of the company traded hands, compared to its average volume of 358,199. Modine Manufacturing has a 12-month low of $17.95 and a 12-month high of $18.50. The company has a quick ratio of 0.85, a current ratio of 1.24 and a debt-to-equity ratio of 0.84. The stock has a market cap of $900.73 million, a P/E ratio of 23.46 and a beta of 1.36.
Modine Manufacturing Company Profile
Modine Manufacturing Company develops, manufactures, and markets engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer vehicular applications. The company operates through Americas, Europe, Asia, and Building HVAC segments. It offers powertrain cooling products, such as engine cooling modules, radiators, charge air coolers, condensers, oil coolers, fan shrouds, and surge tanks; on-engine cooling products consisting of exhaust gas recirculation coolers, engine oil coolers, fuel coolers, charge air coolers, and intake air coolers; and auxiliary coolers, such as transmission and retarder oil coolers, and power steering coolers, as well as component assemblies, radiators, and battery cooling products.
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