Modine (MOD) closed the most recent trading day at $128.39, moving -7.36% from the previous trading session. This move lagged the S&P 500's daily loss of 1.16%. Meanwhile, the Dow experienced a drop of 0.47%, and the technology-dominated Nasdaq saw a decrease of 1.81%.
Shares of the heating and cooling products maker have appreciated by 6.14% over the course of the past month, underperforming the Auto-Tires-Trucks sector's gain of 13.66%, and outperforming the S&P 500's gain of 1.03%.
Analysts and investors alike will be keeping a close eye on the performance of Modine in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.02, indicating a 10.87% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $763.38 million, up 23.77% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.63 per share and revenue of $3.04 billion, indicating changes of +14.32% and +17.58%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Modine. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.31% upward. Modine presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Modine is holding a Forward P/E ratio of 29.92. This valuation marks a premium compared to its industry average Forward P/E of 16.62.
Meanwhile, MOD's PEG ratio is currently 0.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MOD's industry had an average PEG ratio of 1.13 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 95, putting it in the top 39% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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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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