Yahoo Finance Modine (MOD) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest market close, Modine (MOD) reached $92.28, with a -0.38% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.34%. On the other hand, the Dow registered a gain of 0.23%, and the technology-centric Nasdaq decreased by 0.33%.
Shares of the heating and cooling products maker have depreciated by 0.66% over the course of the past month, outperforming the Auto-Tires-Trucks sector's loss of 5.08% and the S&P 500's loss of 4.05%.
The investment community will be paying close attention to the earnings performance of Modine in its upcoming release. It is anticipated that the company will report an EPS of $0.79, marking a 17.91% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $591.15 million, indicating a 4.36% downward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Modine. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Modine boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Modine has a Forward P/E ratio of 24 right now. Its industry sports an average Forward P/E of 12.15, so one might conclude that Modine is trading at a premium comparatively.
Meanwhile, MOD's PEG ratio is currently 0.71. 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 0.76.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 100, placing it within the top 40% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Modine Manufacturing Company (MOD) : Free Stock Analysis Report
