Zacks: Brokerages Anticipate Modine Manufacturing Co. (MOD) Will Post Quarterly Sales of $466.28 Million

Wall Street analysts forecast that Modine Manufacturing Co. (NYSE:MOD) will post $466.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Modine Manufacturing’s earnings. The lowest sales estimate is $456.30 million and the highest is $476.25 million. Modine Manufacturing reported sales of $349.80 million during the same quarter last year, which indicates a positive year over year growth rate of 33.3%. The company is expected to announce its next quarterly earnings report on Monday, February 5th.

According to Zacks, analysts expect that Modine Manufacturing will report full-year sales of $466.28 million for the current fiscal year, with estimates ranging from $1.97 billion to $2.01 billion. For the next year, analysts forecast that the firm will post sales of $2.11 billion per share, with estimates ranging from $2.08 billion to $2.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Modine Manufacturing.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.14. Modine Manufacturing had a return on equity of 14.94% and a net margin of 2.29%. The business had revenue of $508.30 million for the quarter, compared to the consensus estimate of $466.33 million. During the same period in the prior year, the business earned ($0.01) EPS. The firm’s revenue for the quarter was up 60.0% on a year-over-year basis.

A number of research firms recently weighed in on MOD. Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday. ValuEngine downgraded Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 4th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $24.00.

Modine Manufacturing (NYSE MOD) opened at $21.80 on Friday. Modine Manufacturing has a 52 week low of $10.10 and a 52 week high of $23.95. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.25. The firm has a market capitalization of $1,100.00, a P/E ratio of 25.65 and a beta of 1.23.

In other news, VP Matthew J. Mcburney sold 3,522 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $22.97, for a total value of $80,900.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott D. Wollenberg sold 6,414 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $23.55, for a total value of $151,049.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,241 shares of company stock valued at $982,316. Company insiders own 4.42% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can raised its stake in shares of Modine Manufacturing by 142.7% in the third quarter. Great West Life Assurance Co. Can now owns 5,781 shares of the auto parts company’s stock worth $111,000 after purchasing an additional 3,399 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Modine Manufacturing in the third quarter worth approximately $152,000. BNP Paribas Arbitrage SA raised its stake in shares of Modine Manufacturing by 118.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the auto parts company’s stock worth $155,000 after purchasing an additional 5,067 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Modine Manufacturing in the third quarter worth approximately $222,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of Modine Manufacturing in the second quarter worth approximately $215,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

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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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