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Modine (MOD) Stock Sinks As Market Gains: What You Should Know

In the latest trading session, Modine (MOD) closed at $102.22, marking a -1.49% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.12%. On the other hand, the Dow registered a gain of 0.34%, and the technology-centric Nasdaq decreased by 0.07%.

The heating and cooling products maker's shares have seen an increase of 23.89% over the last month, surpassing the Auto-Tires-Trucks sector's gain of 1.23% and the S&P 500's gain of 4.99%.

Investors will be eagerly watching for the performance of Modine in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 21, 2024. The company is predicted to post an EPS of $0.79, indicating a 17.91% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $591.15 million, down 4.36% from the prior-year quarter.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Modine. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained steady. Modine currently has a Zacks Rank of #3 (Hold).

With respect to valuation, Modine is currently being traded at a Forward P/E ratio of 26.88. For comparison, its industry has an average Forward P/E of 12.56, which means Modine is trading at a premium to the group.

Meanwhile, MOD's PEG ratio is currently 0.79. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Original Equipment was holding an average PEG ratio of 0.76 at yesterday's closing price.

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 144, finds itself in the bottom 43% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Modine Manufacturing Company (MOD) : Free Stock Analysis Report

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