Wall Street brokerages forecast that Modine Manufacturing Co. (NYSE:MOD) will announce $525.99 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Modine Manufacturing’s earnings, with estimates ranging from $517.40 million to $534.58 million. Modine Manufacturing posted sales of $488.30 million in the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 23rd.
On average, analysts expect that Modine Manufacturing will report full year sales of $525.99 million for the current financial year, with estimates ranging from $2.05 billion to $2.07 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.19 billion per share, with estimates ranging from $2.17 billion to $2.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Modine Manufacturing.
Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, January 30th. The auto parts company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The business 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%. Modine Manufacturing’s quarterly revenue was up 46.6% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share.
Shares of Modine Manufacturing (MOD) traded up $0.35 on Friday, reaching $24.00. 457,500 shares of the company were exchanged, compared to its average volume of 429,536. The stock has a market capitalization of $1,211.07, a P/E ratio of 16.55 and a beta of 1.34. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.24 and a quick ratio of 0.85. Modine Manufacturing has a 1-year low of $10.10 and a 1-year high of $24.90.
In other Modine Manufacturing news, VP Holger Schwab sold 11,141 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $20.10, for a total transaction of $223,934.10. Following the completion of the sale, the vice president now directly owns 47,225 shares in the company, valued at approximately $949,222.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas F. Marry sold 5,492 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $20.98, for a total value of $115,222.16. The disclosure for this sale can be found here. Insiders sold a total of 45,362 shares of company stock valued at $991,133 over the last quarter. 4.42% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MOD. Teachers Advisors LLC lifted its holdings in Modine Manufacturing by 6.8% in the 2nd quarter. Teachers Advisors LLC now owns 112,977 shares of the auto parts company’s stock worth $1,870,000 after purchasing an additional 7,190 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Modine Manufacturing by 32.5% during the 2nd quarter. New York State Common Retirement Fund now owns 102,386 shares of the auto parts company’s stock valued at $1,694,000 after buying an additional 25,128 shares during the period. UBS Asset Management Americas Inc. bought a new position in Modine Manufacturing in the 2nd quarter valued at $215,000. Northern Trust Corp grew its position in Modine Manufacturing by 11.5% in the 2nd quarter. Northern Trust Corp now owns 976,221 shares of the auto parts company’s stock valued at $16,156,000 after acquiring an additional 100,868 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Modine Manufacturing by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,016,073 shares of the auto parts company’s stock valued at $66,466,000 after acquiring an additional 198,405 shares during the last quarter. 80.61% of the stock is currently owned by institutional investors.
About Modine Manufacturing
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.
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