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Modine (MOD) Registers a Bigger Fall Than the Market: Important Facts to Note
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Modine (MOD - Free Report) ended the recent trading session at $234.28, demonstrating a -4.73% change from the preceding day's closing price. This change lagged the S&P 500's 0.79% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 1.55%.
The stock of heating and cooling products maker has fallen by 10.42% in the past month, lagging the Auto-Tires-Trucks sector's gain of 5% and the S&P 500's gain of 4.28%.
Market participants will be closely following the financial results of Modine in its upcoming release. The company's earnings per share (EPS) are projected to be $1.43, reflecting a 34.91% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $895.49 million, indicating a 31.15% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.73 per share and revenue of $4.03 billion, indicating changes of +53.98% and +26.76%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates 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 business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Modine presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Modine is presently being traded at a Forward P/E ratio of 31.81. For comparison, its industry has an average Forward P/E of 12.64, which means Modine is trading at a premium to the group.
It's also important to note that MOD currently trades at a PEG ratio of 0.8. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Automotive - Original Equipment industry had an average PEG ratio of 0.8.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 109, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.
View the Zacks #1 Rank List
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Modine (MOD) Registers a Bigger Fall Than the Market: Important Facts to Note
Modine (MOD - Free Report) ended the recent trading session at $234.28, demonstrating a -4.73% change from the preceding day's closing price. This change lagged the S&P 500's 0.79% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 1.55%.
The stock of heating and cooling products maker has fallen by 10.42% in the past month, lagging the Auto-Tires-Trucks sector's gain of 5% and the S&P 500's gain of 4.28%.
Market participants will be closely following the financial results of Modine in its upcoming release. The company's earnings per share (EPS) are projected to be $1.43, reflecting a 34.91% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $895.49 million, indicating a 31.15% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.73 per share and revenue of $4.03 billion, indicating changes of +53.98% and +26.76%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates 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 business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Modine presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Modine is presently being traded at a Forward P/E ratio of 31.81. For comparison, its industry has an average Forward P/E of 12.64, which means Modine is trading at a premium to the group.
It's also important to note that MOD currently trades at a PEG ratio of 0.8. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Automotive - Original Equipment industry had an average PEG ratio of 0.8.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 109, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.