Analysts expect Modine Manufacturing (NYSE:MOD) to report sales of $525.99 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Modine Manufacturing’s earnings. The lowest sales estimate is $517.40 million and the highest is $534.58 million. Modine Manufacturing reported sales of $488.30 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7.7%. The business is expected to announce its next earnings results on Wednesday, May 23rd.
According to Zacks, analysts expect that Modine Manufacturing will report full year sales of $2.06 billion for the current year, with estimates ranging from $2.05 billion to $2.07 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.19 billion per share, with estimates ranging from $2.17 billion to $2.21 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Modine Manufacturing.
Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, January 30th. The auto parts company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.06. The firm had revenue of $512.70 million for the quarter, compared to the consensus estimate of $456.30 million. Modine Manufacturing had a net margin of 0.62% and a return on equity of 16.54%. The company’s revenue was up 46.6% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS.
In related news, Director Marsha C. Williams sold 15,000 shares of the stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $20.91, for a total transaction of $313,650.00. Following the completion of the sale, the director now owns 84,541 shares in the company, valued at approximately $1,767,752.31. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Matthew J. Mcburney sold 2,379 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $25.05, for a total transaction of $59,593.95. The disclosure for this sale can be found here. Insiders sold a total of 30,914 shares of company stock worth $686,901 over the last ninety days. Insiders own 4.42% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Modine Manufacturing by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,997,909 shares of the auto parts company’s stock worth $76,960,000 after purchasing an additional 95,915 shares during the period. BlackRock Inc. boosted its stake in Modine Manufacturing by 14.6% during the 4th quarter. BlackRock Inc. now owns 3,764,008 shares of the auto parts company’s stock worth $76,032,000 after purchasing an additional 479,011 shares during the period. Royce & Associates LP boosted its stake in Modine Manufacturing by 2.5% during the 3rd quarter. Royce & Associates LP now owns 1,164,000 shares of the auto parts company’s stock worth $22,407,000 after purchasing an additional 28,000 shares during the period. Millennium Management LLC boosted its stake in Modine Manufacturing by 81.4% during the 4th quarter. Millennium Management LLC now owns 1,067,335 shares of the auto parts company’s stock worth $21,560,000 after purchasing an additional 478,987 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in Modine Manufacturing by 1.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 947,389 shares of the auto parts company’s stock worth $19,137,000 after purchasing an additional 17,249 shares during the period. Hedge funds and other institutional investors own 84.60% of the company’s stock.
Shares of NYSE MOD traded down $0.25 during mid-day trading on Friday, reaching $20.10. The company had a trading volume of 666,248 shares, compared to its average volume of 378,595. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.24 and a quick ratio of 0.85. The company has a market capitalization of $1,029.41, a price-to-earnings ratio of 25.90 and a beta of 1.33. Modine Manufacturing has a 52-week low of $10.15 and a 52-week high of $25.75.
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About Modine Manufacturing
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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