Modine Manufacturing Co. (MOD) Forecasted to Earn FY2021 Earnings of $2.00 Per Share

Modine Manufacturing Co. (NYSE:MOD) – Analysts at Gabelli cut their FY2021 EPS estimates for shares of Modine Manufacturing in a research report issued on Thursday, November 1st. Gabelli analyst M. Paige now forecasts that the auto parts company will post earnings per share of $2.00 for the year, down from their previous forecast of $2.05.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, October 30th. The auto parts company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.11. Modine Manufacturing had a net margin of 2.27% and a return on equity of 16.57%. The business had revenue of $548.90 million for the quarter, compared to analysts’ expectations of $516.95 million. During the same quarter last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. ValuEngine lowered shares of Modine Manufacturing from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 12th.

NYSE:MOD opened at $13.75 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.25 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $697.04 million, a price-to-earnings ratio of 8.93 and a beta of 1.65. Modine Manufacturing has a 52 week low of $11.55 and a 52 week high of $25.75.

A number of large investors have recently bought and sold shares of the business. Globeflex Capital L P increased its stake in Modine Manufacturing by 13.4% in the 2nd quarter. Globeflex Capital L P now owns 26,986 shares of the auto parts company’s stock valued at $492,000 after buying an additional 3,191 shares during the last quarter. Financial Consulate Inc. increased its stake in Modine Manufacturing by 4.0% in the 2nd quarter. Financial Consulate Inc. now owns 129,246 shares of the auto parts company’s stock valued at $2,359,000 after buying an additional 4,935 shares during the last quarter. Monarch Partners Asset Management LLC increased its stake in Modine Manufacturing by 21.2% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 30,580 shares of the auto parts company’s stock valued at $558,000 after buying an additional 5,340 shares during the last quarter. Alps Advisors Inc. increased its stake in Modine Manufacturing by 10.6% in the 2nd quarter. Alps Advisors Inc. now owns 67,778 shares of the auto parts company’s stock valued at $1,237,000 after buying an additional 6,470 shares during the last quarter. Finally, Oarsman Capital Inc. increased its stake in Modine Manufacturing by 3.7% in the 2nd quarter. Oarsman Capital Inc. now owns 221,112 shares of the auto parts company’s stock valued at $4,035,000 after buying an additional 7,795 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

In other Modine Manufacturing 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 completion of the sale, the director now owns 40,135 shares in the company, valued at approximately $708,382.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.48% of the company’s stock.

Modine Manufacturing announced that its board has approved a stock buyback plan on Tuesday, October 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the auto parts company to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About Modine Manufacturing

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.

See Also: Earnings Reports

Earnings History and Estimates for Modine Manufacturing (NYSE:MOD)

Receive News & Ratings for Modine Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Modine Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply