Modine (MOD) closed the most recent trading day at $153.65, moving +2.67% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.16%. At the same time, the Dow added 0.44%, and the tech-heavy Nasdaq lost 0.76%.
Coming into today, shares of the heating and cooling products maker had lost 1.8% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.18%, while the S&P 500 gained 1.14%.
Market participants will be closely following the financial results of Modine in its upcoming release. The company's upcoming EPS is projected at $1.01, signifying a 4.12% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $690.47 million, indicating a 4.93% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.63 per share and a revenue of $2.88 billion, signifying shifts of +14.32% and +11.31%, respectively, from the last year.
Any recent changes to analyst estimates for Modine should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Modine currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Modine is currently being traded at a Forward P/E ratio of 32.32. This valuation marks a premium compared to its industry average Forward P/E of 13.14.
One should further note that MOD currently holds a PEG ratio of 0.95. 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 1.2 as of yesterday's close.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 77, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Modine Manufacturing Company (MOD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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