Modine Manufacturing Company (NYSE:MOD) - Analysts at Seaport Global Securities boosted their Q2 2018 EPS estimates for shares of Modine Manufacturing in a research note issued on Wednesday. Seaport Global Securities analyst M. Shlisky now expects that the auto parts company will post earnings per share of $0.20 for the quarter, up from their previous estimate of $0.16. Seaport Global Securities also issued estimates for Modine Manufacturing’s FY2018 earnings at $1.40 EPS and FY2019 earnings at $1.54 EPS.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.09. Modine Manufacturing had a return on equity of 11.52% and a net margin of 1.35%. The company had revenue of $515.50 million during the quarter, compared to analyst estimates of $482.70 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Modine Manufacturing’s revenue was up 48.5% on a year-over-year basis. TRADEMARK VIOLATION WARNING: “Q2 2018 EPS Estimates for Modine Manufacturing Company (MOD) Boosted by Analyst” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at https://stocknewstimes.com/2017/08/14/q2-2018-eps-estimates-for-modine-manufacturing-company-mod-boosted-by-analyst-updated.html.
Several other brokerages also recently issued reports on MOD. TheStreet raised Modine Manufacturing from a “c” rating to a “b-” rating in a research note on Tuesday. ValuEngine raised Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Tuesday. BidaskClub downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Thursday, June 1st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $17.00.
Shares of Modine Manufacturing (MOD) traded up 2.69% on Friday, hitting $17.20. The stock had a trading volume of 361,850 shares. The firm has a 50-day moving average price of $16.55 and a 200-day moving average price of $13.49. The stock has a market capitalization of $861.70 million, a P/E ratio of 37.23 and a beta of 1.20. Modine Manufacturing has a 52 week low of $9.25 and a 52 week high of $17.38.
A number of hedge funds have recently added to or reduced their stakes in MOD. DnB Asset Management AS boosted its position in Modine Manufacturing by 22.9% in the first quarter. DnB Asset Management AS now owns 1,334,355 shares of the auto parts company’s stock worth $16,279,000 after buying an additional 248,371 shares during the last quarter. Driehaus Capital Management LLC boosted its position in Modine Manufacturing by 135.6% in the first quarter. Driehaus Capital Management LLC now owns 383,772 shares of the auto parts company’s stock worth $4,682,000 after buying an additional 220,862 shares during the last quarter. State Street Corp boosted its position in Modine Manufacturing by 4.2% in the fourth quarter. State Street Corp now owns 1,012,362 shares of the auto parts company’s stock worth $15,079,000 after buying an additional 40,946 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in Modine Manufacturing during the fourth quarter worth about $281,000. Finally, Tricadia Capital Management LLC acquired a new position in Modine Manufacturing during the first quarter worth about $4,941,000. 82.87% of the stock is currently owned by institutional investors and hedge funds.
In other Modine Manufacturing news, VP Scott D. Wollenberg sold 5,736 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $15.95, for a total value of $91,489.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.42% of the company’s stock.
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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