The latest trading session saw Modine (MOD) ending at $131.50, denoting a +0.88% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.82%. On the other hand, the Dow registered a loss of 0.22%, and the technology-centric Nasdaq increased by 1.77%.
Heading into today, shares of the heating and cooling products maker had gained 4.41% over the past month, lagging the Auto-Tires-Trucks sector's gain of 14.73% and outpacing the S&P 500's gain of 0.8% in that time.
Investors will be eagerly watching for the performance of Modine in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.79, reflecting a 6.76% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $614.7 million, indicating a 9.49% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.83 per share and a revenue of $2.62 billion, indicating changes of +17.85% and +8.91%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Modine. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Modine is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Modine is currently being traded at a Forward P/E ratio of 34.05. For comparison, its industry has an average Forward P/E of 14.18, which means Modine is trading at a premium to the group.
We can also see that MOD currently has a PEG ratio of 1. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Automotive - Original Equipment industry currently had an average PEG ratio of 1 as of yesterday's close.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 168, finds itself in the bottom 34% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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