In the latest close session, Modine (MOD) was down 3.99% at $181.89. This move lagged the S&P 500's daily loss of 0.47%. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq decreased by 1.25%.
Heading into today, shares of the heating and cooling products maker had gained 1.87% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 0.09% and the S&P 500's gain of 1.15%.
The upcoming earnings release of Modine will be of great interest to investors. The company's upcoming EPS is projected at $1.47, signifying a 38.68% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $964.62 million, indicating a 30.55% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $7.68 per share and a revenue of $4.04 billion, demonstrating changes of +52.99% and +27.01%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Modine. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 has moved 0.41% higher. Modine is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Modine is presently being traded at a Forward P/E ratio of 24.67. This signifies a premium in comparison to the average Forward P/E of 11.97 for its industry.
Meanwhile, MOD's PEG ratio is currently 0.62. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Automotive - Original Equipment stocks are, on average, holding a PEG ratio of 0.7 based on yesterday's closing prices.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 183, placing it within the bottom 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).