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Modine Manufacturing (NYSE:MOD - Get Rating) - Research analysts at DA Davidson issued their Q2 2023 EPS estimates for Modine Manufacturing in a research report issued to clients and investors on Monday, August 8th. DA Davidson analyst M. Summerville forecasts that the auto parts company will post earnings per share of $0.37 for the quarter. The consensus estimate for Modine Manufacturing's current full-year earnings is $1.62 per share. DA Davidson also issued estimates for Modine Manufacturing's FY2024 earnings at $2.20 EPS.
Modine Manufacturing (NYSE:MOD - Get Rating) last posted its earnings results on Wednesday, May 25th. The auto parts company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $574.40 million for the quarter. Modine Manufacturing had a net margin of 4.64% and a return on equity of 16.65%. During the same quarter last year, the business posted $0.51 earnings per share.
Separately, StockNews.com upgraded shares of Modine Manufacturing from a "buy" rating to a "strong-buy" rating in a report on Friday.Modine Manufacturing Trading Up 5.6 %
MOD opened at $15.65 on Tuesday. The firm's fifty day moving average is $11.73 and its two-hundred day moving average is $10.03. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.57. The firm has a market cap of $813.33 million, a PE ratio of 8.46, a price-to-earnings-growth ratio of 0.37 and a beta of 2.34. Modine Manufacturing has a twelve month low of $7.67 and a twelve month high of $15.86. Insider Buying and Selling
In related news, CFO Michael B. Lucareli sold 3,783 shares of the firm's stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $11.94, for a total transaction of $45,169.02. Following the sale, the chief financial officer now directly owns 274,572 shares in the company, valued at $3,278,389.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.06% of the stock is currently owned by company insiders. Institutional Investors Weigh In On Modine Manufacturing
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its stake in Modine Manufacturing by 10.5% in the 1st quarter. Bank of Montreal Can now owns 14,294 shares of the auto parts company's stock valued at $136,000 after buying an additional 1,363 shares during the last quarter. Royal Bank of Canada grew its position in shares of Modine Manufacturing by 1.4% in the 1st quarter. Royal Bank of Canada now owns 103,123 shares of the auto parts company's stock valued at $929,000 after acquiring an additional 1,460 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Modine Manufacturing by 11.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,624 shares of the auto parts company's stock valued at $175,000 after acquiring an additional 1,870 shares during the period. Investors Research Corp grew its position in shares of Modine Manufacturing by 20.4% in the 1st quarter. Investors Research Corp now owns 11,200 shares of the auto parts company's stock valued at $101,000 after acquiring an additional 1,900 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Modine Manufacturing by 9.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 23,395 shares of the auto parts company's stock valued at $236,000 after acquiring an additional 1,967 shares during the period. 94.42% of the stock is currently owned by institutional investors and hedge funds. About Modine Manufacturing (Get Rating)
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. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.Featured ArticlesGet a free copy of the StockNews.com research report on Modine Manufacturing (MOD)Home Depot, Lowe's On Track To Grow 2022 Earnings Could Smaller be Better for Investors in Norwegian Cruise Lines? Walmart Or Target: Which Is The Stronger Stock? Can Etsy Continue to Thrive After the Pandemic? Volume Surges Spark Turnarounds for These 3 Stocks
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