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In the latest trading session, Modine (MOD) closed at $79.25, marking a -0.89% move from the previous day. This change was narrower than the S&P 500's 1.97% loss on the day. Meanwhile, the Dow experienced a drop of 1.69%, and the technology-dominated Nasdaq saw a decrease of 2.7%.
Coming into today, shares of the heating and cooling products maker had gained 0.71% in the past month. In that same time, the Auto-Tires-Trucks sector lost 3.25%, while the S&P 500 lost 2.79%.
The investment community will be closely monitoring the performance of Modine in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.96, reflecting a 24.68% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $631.35 million, indicating a 4.61% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $3.88 per share and a revenue of $2.57 billion, demonstrating changes of +19.38% and +6.7%, respectively, from the preceding 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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Modine holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Modine is currently exchanging hands at a Forward P/E ratio of 20.61. This signifies a premium in comparison to the average Forward P/E of 11.1 for its industry.
We can also see that MOD currently has a PEG ratio of 0.61. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Automotive - Original Equipment industry had an average PEG ratio of 0.78.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 138, which puts it in the bottom 46% of all 250+ industries.