Modine (MOD) ended the recent trading session at $121.62, demonstrating a -0.94% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 1.11%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq depreciated by 1.89%.
Shares of the heating and cooling products maker witnessed a loss of 5.24% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 0.81% and the S&P 500's loss of 1.7%.
Market participants will be closely following the financial results of Modine in its upcoming release. The company is predicted to post an EPS of $0.79, indicating a 6.76% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $614.7 million, up 9.49% from the year-ago period.
MOD's full-year Zacks Consensus Estimates are calling for earnings of $3.83 per share and revenue of $2.62 billion. These results would represent year-over-year changes of +17.85% and +8.91%, respectively.
Investors might also notice recent changes to analyst estimates for Modine. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Modine currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Modine is presently trading at a Forward P/E ratio of 32.07. This denotes a premium relative to the industry's average Forward P/E of 11.38.
Also, we should mention that MOD has a PEG ratio of 0.94. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Automotive - Original Equipment industry stood at 0.69 at the close of the market yesterday.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 178, positioning it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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