Modine Manufacturing (NYSE:MOD) announced its earnings results on Wednesday. The auto parts company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02, Briefing.com reports. The company had revenue of $556.70 million during the quarter, compared to analyst estimates of $577.30 million. Modine Manufacturing had a net margin of 4.32% and a return on equity of 16.34%. Modine Manufacturing’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Modine Manufacturing updated its FY 2020 guidance to $1.55-1.70 EPS and its FY20 guidance to $1.55-1.70 EPS.
Shares of MOD stock opened at $13.55 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a market cap of $662.73 million, a price-to-earnings ratio of 8.80 and a beta of 1.97. Modine Manufacturing has a 1-year low of $9.75 and a 1-year high of $20.30.
In related news, VP Dennis P. Appel bought 3,180 shares of the stock in a transaction on Friday, March 22nd. The stock was bought at an average price of $13.99 per share, with a total value of $44,488.20. Following the completion of the purchase, the vice president now directly owns 33,543 shares in the company, valued at approximately $469,266.57. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Matthew J. Mcburney sold 4,988 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $14.74, for a total transaction of $73,523.12. The disclosure for this sale can be found here. Company insiders own 4.48% of the company’s stock.
Several research analysts have weighed in on the stock. ValuEngine lowered shares of Modine Manufacturing from a “sell” rating to a “strong sell” rating in a research note on Friday, May 10th. Zacks Investment Research lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th.
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About Modine Manufacturing
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.
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