Equities Analysts Set Expectations for Modine Manufacturing Co.’s Q3 2020 Earnings (NYSE:MOD)

Modine Manufacturing Co. (NYSE:MOD) – Stock analysts at DA Davidson issued their Q3 2020 earnings per share (EPS) estimates for Modine Manufacturing in a research report issued on Tuesday, November 12th. DA Davidson analyst M. Summerville forecasts that the auto parts company will earn $0.16 per share for the quarter. DA Davidson has a “Neutral” rating on the stock. DA Davidson also issued estimates for Modine Manufacturing’s FY2020 earnings at $0.80 EPS and FY2021 earnings at $1.10 EPS.

A number of other research firms have also recently issued reports on MOD. Zacks Investment Research cut Modine Manufacturing from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. TheStreet cut Modine Manufacturing from a “b-” rating to a “c” rating in a research report on Friday, September 20th. Robert W. Baird cut Modine Manufacturing from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $14.00 to $9.00 in a research report on Monday. Dougherty & Co cut Modine Manufacturing from a “buy” rating to a “neutral” rating in a research report on Friday, November 8th. Finally, ValuEngine raised Modine Manufacturing from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $12.63.

Shares of MOD traded down $0.07 during mid-day trading on Friday, reaching $7.53. The company’s stock had a trading volume of 411,647 shares, compared to its average volume of 375,283. Modine Manufacturing has a 1-year low of $6.82 and a 1-year high of $16.67. The stock has a market cap of $389.10 million, a P/E ratio of 4.80, a PEG ratio of 0.93 and a beta of 1.99. The business has a 50-day simple moving average of $10.56 and a two-hundred day simple moving average of $12.20. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Thursday, November 7th. The auto parts company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.12). Modine Manufacturing had a net margin of 1.30% and a return on equity of 11.95%. The company had revenue of $500.20 million during the quarter, compared to the consensus estimate of $514.27 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in MOD. Nuveen Asset Management LLC acquired a new stake in Modine Manufacturing during the 2nd quarter worth approximately $12,756,000. River Road Asset Management LLC bought a new position in Modine Manufacturing during the 3rd quarter worth $7,167,000. Wedge Capital Management L L P NC increased its stake in Modine Manufacturing by 35.3% during the 3rd quarter. Wedge Capital Management L L P NC now owns 1,299,964 shares of the auto parts company’s stock worth $14,781,000 after acquiring an additional 338,862 shares during the period. Parametric Portfolio Associates LLC increased its stake in Modine Manufacturing by 43.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,013,618 shares of the auto parts company’s stock worth $14,505,000 after acquiring an additional 307,036 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Modine Manufacturing by 89.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 544,393 shares of the auto parts company’s stock worth $6,190,000 after acquiring an additional 256,913 shares during the period. 89.34% of the stock is owned by institutional investors and hedge funds.

In other Modine Manufacturing news, insider Hanna Julian 500,000 shares of the firm’s stock in a transaction on Friday, October 11th. Company insiders own 5.01% of the company’s stock.

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

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