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The most recent trading session ended with Modine (MOD) standing at $75.50, reflecting a -1.88% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 2.24%. On the other hand, the Dow registered a loss of 1.73%, and the technology-centric Nasdaq decreased by 3.07%.
Shares of the heating and cooling products maker have depreciated by 7.33% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 3.98% and the S&P 500's loss of 4.17%.
Investors will be eagerly watching for the performance of Modine in its upcoming earnings disclosure. 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, our latest consensus estimate is calling for revenue of $629.47 million, up 4.3% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Modine. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 has moved 2.71% lower within the past month. Right now, Modine possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Modine is at present trading with a Forward P/E ratio of 16.72. This signifies a premium in comparison to the average Forward P/E of 9.55 for its industry.
It is also worth noting that MOD currently has a PEG ratio of 0.49. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Automotive - Original Equipment industry currently had an average PEG ratio of 0.6 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 174, putting it in the bottom 30% of all 250+ industries.