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Why the Market Dipped But Modine (MOD) Gained Today
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The latest trading session saw Modine (MOD - Free Report) ending at $94.03, denoting a +0.16% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.16% for the day. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the heating and cooling products maker had lost 2.94% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 3.02% and lagged the S&P 500's gain of 3.15% in that time.
The investment community will be closely monitoring the performance of Modine in its forthcoming earnings report. The company is predicted to post an EPS of $0.84, indicating a 1.18% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $627.67 million, up 0.85% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.70 per share and revenue of $2.57 billion, which would represent changes of +13.85% and +6.89%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Modine. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 2.57% lower. Modine currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Modine is holding a Forward P/E ratio of 25.36. For comparison, its industry has an average Forward P/E of 12.11, which means Modine is trading at a premium to the group.
Meanwhile, MOD's PEG ratio is currently 0.75. 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 had an average PEG ratio of 0.64 as trading concluded yesterday.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 151, this industry ranks in the bottom 41% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why the Market Dipped But Modine (MOD) Gained Today
The latest trading session saw Modine (MOD - Free Report) ending at $94.03, denoting a +0.16% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.16% for the day. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the heating and cooling products maker had lost 2.94% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 3.02% and lagged the S&P 500's gain of 3.15% in that time.
The investment community will be closely monitoring the performance of Modine in its forthcoming earnings report. The company is predicted to post an EPS of $0.84, indicating a 1.18% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $627.67 million, up 0.85% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.70 per share and revenue of $2.57 billion, which would represent changes of +13.85% and +6.89%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Modine. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 2.57% lower. Modine currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Modine is holding a Forward P/E ratio of 25.36. For comparison, its industry has an average Forward P/E of 12.11, which means Modine is trading at a premium to the group.
Meanwhile, MOD's PEG ratio is currently 0.75. 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 had an average PEG ratio of 0.64 as trading concluded yesterday.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 151, this industry ranks in the bottom 41% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.