Modine Manufacturing (MOD) to Release Quarterly Earnings on Wednesday

Modine Manufacturing (NYSE:MOD – Get Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, February 1st. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Modine Manufacturing has set its FY 2023 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

Modine Manufacturing (NYSE:MOD – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The auto parts company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.37 by $0.11. Modine Manufacturing had a return on equity of 19.79% and a net margin of 5.52%. The firm had revenue of $578.80 million during the quarter, compared to analysts’ expectations of $545.10 million. On average, analysts expect Modine Manufacturing to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Modine Manufacturing Stock Performance

MOD opened at $22.41 on Wednesday. Modine Manufacturing has a 12-month low of $7.67 and a 12-month high of $23.57. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 0.50 and a beta of 2.27. The business has a 50 day moving average of $20.97 and a 200-day moving average of $17.19. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.74.

Insider Buying and Selling

In related news, CFO Michael B. Lucareli sold 60,000 shares of Modine Manufacturing stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $19.58, for a total transaction of $1,174,800.00. Following the completion of the sale, the chief financial officer now directly owns 293,287 shares of the company’s stock, valued at approximately $5,742,559.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.06% of the stock is currently owned by insiders.

Institutional Trading of Modine Manufacturing

Several hedge funds have recently added to or reduced their stakes in MOD. Bank of New York Mellon Corp increased its stake in Modine Manufacturing by 7.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 238,226 shares of the auto parts company’s stock worth $3,082,000 after acquiring an additional 16,665 shares during the period. Jane Street Group LLC bought a new position in Modine Manufacturing during the 3rd quarter worth $411,000. BNP Paribas Arbitrage SNC increased its stake in Modine Manufacturing by 374.7% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 71,502 shares of the auto parts company’s stock worth $925,000 after acquiring an additional 56,438 shares during the period. State Street Corp increased its stake in Modine Manufacturing by 1.5% during the 3rd quarter. State Street Corp now owns 1,134,826 shares of the auto parts company’s stock worth $14,685,000 after acquiring an additional 17,026 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Modine Manufacturing by 132.0% during the 3rd quarter. Two Sigma Advisers LP now owns 101,600 shares of the auto parts company’s stock worth $1,315,000 after acquiring an additional 57,800 shares during the period. 89.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on MOD. CJS Securities began coverage on Modine Manufacturing in a research report on Tuesday, December 6th. They issued an “outperform” rating for the company. EF Hutton Acquisition Co. I began coverage on Modine Manufacturing in a research report on Tuesday, January 17th. They issued a “buy” rating and a $32.00 price objective for the company. TheStreet raised Modine Manufacturing from a “c+” rating to a “b-” rating in a research report on Thursday, November 3rd. Finally, StockNews.com cut Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 4th.

Modine Manufacturing Company Profile

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Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.