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Modine (MOD) Gains As Market Dips: What You Should Know
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Modine (MOD - Free Report) closed the latest trading day at $107.87, indicating a +1.3% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.78%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 0.7%.
The the stock of heating and cooling products maker has risen by 8.92% in the past month, lagging the Auto-Tires-Trucks sector's gain of 17.69% and overreaching the S&P 500's gain of 2.14%.
Analysts and investors alike will be keeping a close eye on the performance of Modine in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. On that day, Modine is projected to report earnings of $0.84 per share, which would represent a year-over-year decline of 1.18%. At the same time, our most recent consensus estimate is projecting a revenue of $627.67 million, reflecting a 0.85% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.71 per share and a revenue of $2.57 billion, indicating changes of +14.15% and +6.88%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Modine. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.07% upward. Currently, Modine is carrying a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Modine is currently trading at a Forward P/E ratio of 28.74. This expresses a premium compared to the average Forward P/E of 12.91 of its industry.
Investors should also note that MOD has a PEG ratio of 0.85 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Automotive - Original Equipment industry was having an average PEG ratio of 0.74.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 201, positioning it in the bottom 21% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Modine (MOD) Gains As Market Dips: What You Should Know
Modine (MOD - Free Report) closed the latest trading day at $107.87, indicating a +1.3% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.78%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 0.7%.
The the stock of heating and cooling products maker has risen by 8.92% in the past month, lagging the Auto-Tires-Trucks sector's gain of 17.69% and overreaching the S&P 500's gain of 2.14%.
Analysts and investors alike will be keeping a close eye on the performance of Modine in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. On that day, Modine is projected to report earnings of $0.84 per share, which would represent a year-over-year decline of 1.18%. At the same time, our most recent consensus estimate is projecting a revenue of $627.67 million, reflecting a 0.85% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.71 per share and a revenue of $2.57 billion, indicating changes of +14.15% and +6.88%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Modine. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.07% upward. Currently, Modine is carrying a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Modine is currently trading at a Forward P/E ratio of 28.74. This expresses a premium compared to the average Forward P/E of 12.91 of its industry.
Investors should also note that MOD has a PEG ratio of 0.85 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Automotive - Original Equipment industry was having an average PEG ratio of 0.74.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 201, positioning it in the bottom 21% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.