Analysts Expect Modine Manufacturing Co. (MOD) Will Post Quarterly Sales of $534.56 Million

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Equities research analysts expect that Modine Manufacturing Co. (NYSE:MOD) will report $534.56 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Modine Manufacturing’s earnings, with estimates ranging from $534.21 million to $534.90 million. Modine Manufacturing posted sales of $508.30 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.2%. The business is scheduled to report its next earnings results on Tuesday, October 30th.

On average, analysts expect that Modine Manufacturing will report full year sales of $2.23 billion for the current year, with estimates ranging from $2.23 billion to $2.25 billion. For the next financial year, analysts expect that the business will post sales of $2.33 billion per share, with estimates ranging from $2.30 billion to $2.38 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Modine Manufacturing.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. Modine Manufacturing had a net margin of 1.26% and a return on equity of 17.01%. The business had revenue of $566.10 million for the quarter, compared to the consensus estimate of $552.12 million. During the same period in the prior year, the business posted $0.39 earnings per share. Modine Manufacturing’s revenue for the quarter was up 9.8% compared to the same quarter last year.

MOD has been the subject of a number of recent research reports. ValuEngine cut shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research cut shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Thursday, May 31st.

In related news, Director Larry Oscar Moore sold 5,400 shares of the company’s stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $17.80, for a total value of $96,120.00. Following the completion of the sale, the director now directly owns 40,259 shares in the company, valued at $716,610.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.48% of the company’s stock.

A number of large investors have recently modified their holdings of MOD. BlackRock Inc. boosted its holdings in Modine Manufacturing by 11.1% in the first quarter. BlackRock Inc. now owns 4,182,069 shares of the auto parts company’s stock worth $88,452,000 after purchasing an additional 418,061 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Modine Manufacturing during the first quarter valued at about $7,434,000. Penn Capital Management Co. Inc. boosted its holdings in Modine Manufacturing by 56.8% during the second quarter. Penn Capital Management Co. Inc. now owns 939,827 shares of the auto parts company’s stock valued at $17,168,000 after acquiring an additional 340,302 shares during the period. Prudential Financial Inc. boosted its holdings in Modine Manufacturing by 1,029.6% during the first quarter. Prudential Financial Inc. now owns 273,533 shares of the auto parts company’s stock valued at $5,785,000 after acquiring an additional 249,317 shares during the period. Finally, Cortina Asset Management LLC bought a new stake in Modine Manufacturing during the first quarter valued at about $4,091,000. Hedge funds and other institutional investors own 87.10% of the company’s stock.

NYSE MOD opened at $17.70 on Tuesday. The firm has a market capitalization of $906.53 million, a PE ratio of 11.66 and a beta of 1.38. Modine Manufacturing has a 1-year low of $15.25 and a 1-year high of $25.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.88 and a current ratio of 1.25.

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.

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