Modine (MOD) closed at $99.93 in the latest trading session, marking a +2.84% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 1.19%, and the technology-dominated Nasdaq saw an increase of 1.43%.
Shares of the heating and cooling products maker have appreciated by 8.2% over the course of the past month, outperforming the Auto-Tires-Trucks sector's gain of 0.34%, and the S&P 500's gain of 3.92%.
The investment community will be closely monitoring the performance of Modine in its forthcoming earnings report. The company is forecasted to report an EPS of $0.98, showcasing a 5.77% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $654.07 million, indicating a 1.12% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.51 per share and a revenue of $2.73 billion, indicating changes of +11.36% and +5.77%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Modine. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.53% fall in the Zacks Consensus EPS estimate. At present, Modine boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Modine is presently being traded at a Forward P/E ratio of 21.53. This represents a premium compared to its industry average Forward P/E of 12.12.
We can additionally observe that MOD currently boasts a PEG ratio of 0.63. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Original Equipment industry currently had an average PEG ratio of 1.07 as of yesterday's close.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 74, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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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Modine Manufacturing Company (MOD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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