Modine Manufacturing Co. (NYSE:MOD) – Equities research analysts at Dougherty & Co issued their Q3 2020 earnings estimates for shares of Modine Manufacturing in a report released on Monday, November 11th. Dougherty & Co analyst M. Shlisky anticipates that the auto parts company will post earnings per share of $0.23 for the quarter. Dougherty & Co currently has a “Neutral” rating on the stock. Dougherty & Co also issued estimates for Modine Manufacturing’s FY2020 earnings at $0.86 EPS.
A number of other research firms have also recently commented on MOD. Zacks Investment Research cut Modine Manufacturing from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. TheStreet cut Modine Manufacturing from a “b-” rating to a “c” rating in a research report on Friday, September 20th. DA Davidson restated a “neutral” rating on shares of Modine Manufacturing in a research report on Wednesday, September 11th. ValuEngine upgraded Modine Manufacturing from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird cut Modine Manufacturing from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $14.00 to $9.00 in a research report on Monday. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.63.
Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Thursday, November 7th. The auto parts company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.12). The business had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $514.27 million. Modine Manufacturing had a net margin of 1.30% and a return on equity of 11.85%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share.
Large investors have recently modified their holdings of the company. River Road Asset Management LLC acquired a new position in shares of Modine Manufacturing during the 3rd quarter worth about $7,167,000. Brasada Capital Management LP acquired a new position in shares of Modine Manufacturing during the 3rd quarter worth about $318,000. KLCM Advisors Inc. boosted its position in shares of Modine Manufacturing by 21.5% during the 3rd quarter. KLCM Advisors Inc. now owns 424,575 shares of the auto parts company’s stock worth $4,827,000 after acquiring an additional 75,000 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Modine Manufacturing by 35.3% during the 3rd quarter. Wedge Capital Management L L P NC now owns 1,299,964 shares of the auto parts company’s stock worth $14,781,000 after acquiring an additional 338,862 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Modine Manufacturing by 89.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 544,393 shares of the auto parts company’s stock worth $6,190,000 after acquiring an additional 256,913 shares in the last quarter. 89.34% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Hanna Julian 500,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. Insiders own 5.01% 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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