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Modine (MOD) closed the most recent trading day at $77.41, moving +0.99% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.79%. Elsewhere, the Dow saw an upswing of 0.78%, while the tech-heavy Nasdaq appreciated by 0.64%.
The heating and cooling products maker's shares have seen a decrease of 10.27% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 1.73% and the S&P 500's loss of 3.56%.
The upcoming earnings release of Modine will be of great interest to investors. In that report, analysts expect Modine to post earnings of $0.96 per share. This would mark year-over-year growth of 24.68%. Meanwhile, the latest consensus estimate predicts the revenue to be $629.47 million, indicating a 4.3% increase compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Modine. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.71% decrease. Right now, Modine possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Modine currently has a Forward P/E ratio of 16.66. This signifies a premium in comparison to the average Forward P/E of 9.39 for its industry.
Meanwhile, MOD's PEG ratio is currently 0.49. 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 0.68 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 181, placing it within the bottom 28% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.