Equities Analysts Issue Forecasts for Modine Manufacturing Company’s Q1 2018 Earnings (NYSE:MOD)

Modine Manufacturing Company (NYSE:MOD) – Analysts at Seaport Global Securities boosted their Q1 2018 earnings estimates for Modine Manufacturing in a research note issued on Thursday. Seaport Global Securities analyst M. Shlisky now forecasts that the auto parts company will post earnings of $0.30 per share for the quarter, up from their previous forecast of $0.24. Seaport Global Securities also issued estimates for Modine Manufacturing’s Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.45 EPS and FY2018 earnings at $1.29 EPS.

Several other equities research analysts have also recently weighed in on the stock. ValuEngine raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Thursday, June 1st.

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Shares of Modine Manufacturing (NYSE MOD) traded down 2.212% during trading on Friday, reaching $16.575. 110,959 shares of the company were exchanged. The stock has a market capitalization of $830.06 million, a PE ratio of 56.764 and a beta of 1.21. Modine Manufacturing has a one year low of $9.20 and a one year high of $17.38. The stock has a 50-day moving average price of $16.59 and a 200-day moving average price of $13.38.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Wednesday, May 24th. The auto parts company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Modine Manufacturing had a net margin of 0.94% and a return on equity of 9.27%. The business had revenue of $488.30 million during the quarter, compared to the consensus estimate of $468.37 million. During the same quarter last year, the firm earned $0.36 earnings per share. Modine Manufacturing’s quarterly revenue was up 42.1% on a year-over-year basis.

In other Modine Manufacturing news, VP Scott D. Wollenberg sold 5,736 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $15.95, for a total transaction of $91,489.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.42% of the company’s stock.

Large investors have recently bought and sold shares of the company. Aperio Group LLC boosted its stake in Modine Manufacturing by 0.6% in the second quarter. Aperio Group LLC now owns 13,495 shares of the auto parts company’s stock valued at $223,000 after buying an additional 78 shares in the last quarter. Bank of America Corp DE boosted its stake in Modine Manufacturing by 11.5% in the first quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock valued at $120,000 after buying an additional 1,008 shares in the last quarter. American International Group Inc. boosted its stake in Modine Manufacturing by 7.0% in the first quarter. American International Group Inc. now owns 28,990 shares of the auto parts company’s stock valued at $354,000 after buying an additional 1,907 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Modine Manufacturing by 8.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 47,519 shares of the auto parts company’s stock valued at $708,000 after buying an additional 3,548 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in Modine Manufacturing by 7.3% in the first quarter. Teachers Advisors LLC now owns 105,787 shares of the auto parts company’s stock valued at $1,291,000 after buying an additional 7,158 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Company Profile

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.

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

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