Wall Street analysts forecast that Modine Manufacturing Co. (NYSE:MOD) will announce $532.67 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Modine Manufacturing’s earnings. The highest sales estimate is $533.04 million and the lowest is $532.30 million. Modine Manufacturing posted sales of $508.30 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The business is scheduled to issue its next quarterly 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 fiscal year, with estimates ranging from $2.22 billion to $2.28 billion. For the next financial year, analysts anticipate that the company will report sales of $2.35 billion per share, with estimates ranging from $2.30 billion to $2.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Modine Manufacturing.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Wednesday, August 1st. The auto parts company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. The firm had revenue of $566.10 million for the quarter, compared to analysts’ expectations of $552.12 million. Modine Manufacturing had a net margin of 1.26% and a return on equity of 17.01%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS.
A number of brokerages recently commented on MOD. ValuEngine cut shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research cut shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Thursday, May 31st.
NYSE MOD traded up $0.15 during trading hours on Monday, reaching $15.45. The company’s stock had a trading volume of 335,900 shares, compared to its average volume of 303,030. The stock has a market cap of $798.38 million, a price-to-earnings ratio of 10.03 and a beta of 1.54. Modine Manufacturing has a fifty-two week low of $15.15 and a fifty-two week high of $25.75. The company has a current ratio of 1.23, a quick ratio of 0.85 and a debt-to-equity ratio of 0.76.
In related news, Director Suresh V. Garimella sold 14,181 shares of the stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $17.65, for a total value of $250,294.65. Following the sale, the director now directly owns 40,135 shares of the company’s stock, valued at approximately $708,382.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.48% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Modine Manufacturing in the 1st quarter valued at about $136,000. Paloma Partners Management Co purchased a new position in Modine Manufacturing in the 2nd quarter valued at about $184,000. Global X Management Co LLC purchased a new position in Modine Manufacturing in the 2nd quarter valued at about $206,000. First Mercantile Trust Co. lifted its holdings in Modine Manufacturing by 91.4% in the 1st quarter. First Mercantile Trust Co. now owns 9,893 shares of the auto parts company’s stock valued at $209,000 after purchasing an additional 4,723 shares in the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new position in Modine Manufacturing in the 2nd quarter valued at about $215,000. Institutional investors own 92.05% 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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