Snap-On Inc. (SNA) to Release Quarterly Earnings on Thursday
Snap-On Inc. (NYSE:SNA) is scheduled to release its Q316 earnings data on Thursday, October 20th. Analysts expect Snap-On to post earnings of $2.15 per share and revenue of $709.70 million for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.
Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $2.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.13. The business had revenue of $872.30 million for the quarter, compared to analyst estimates of $876.70 million. Snap-On had a return on equity of 20.78% and a net margin of 15.28%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.03 EPS. On average, analysts expect Snap-On to post $9.09 EPS for the current fiscal year and $9.96 EPS for the next fiscal year.
Shares of Snap-On Inc. (NYSE:SNA) opened at 149.56 on Wednesday. Snap-On Inc. has a 52 week low of $133.09 and a 52 week high of $174.52. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 17.15 and a beta of 1.23. The stock’s 50 day moving average price is $150.12 and its 200 day moving average price is $155.98.
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A number of brokerages have recently issued reports on SNA. Zacks Investment Research lowered shares of Snap-On from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Robert W. Baird reiterated a “buy” rating on shares of Snap-On in a research note on Tuesday, June 28th. Finally, CL King began coverage on shares of Snap-On in a research note on Monday, June 27th. They set a “buy” rating and a $174.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Snap-On has an average rating of “Buy” and a consensus target price of $175.07.
In other Snap-On news, SVP Thomas L. Kassouf sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $153.29, for a total value of $306,580.00. Following the sale, the senior vice president now directly owns 26,612 shares in the company, valued at approximately $4,079,353.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Iain Boyd sold 3,500 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $157.97, for a total transaction of $552,895.00. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its stake in Snap-On by 12.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,804,216 shares of the company’s stock valued at $284,741,000 after buying an additional 197,349 shares in the last quarter. BlackRock Fund Advisors raised its stake in Snap-On by 1.1% in the second quarter. BlackRock Fund Advisors now owns 918,846 shares of the company’s stock valued at $145,012,000 after buying an additional 10,200 shares in the last quarter. FMR LLC raised its stake in Snap-On by 31.5% in the second quarter. FMR LLC now owns 850,151 shares of the company’s stock valued at $134,171,000 after buying an additional 203,722 shares in the last quarter. BlackRock Group LTD raised its stake in Snap-On by 19.3% in the second quarter. BlackRock Group LTD now owns 557,878 shares of the company’s stock valued at $88,046,000 after buying an additional 90,424 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in Snap-On by 10.8% in the second quarter. Bessemer Group Inc. now owns 498,911 shares of the company’s stock valued at $78,739,000 after buying an additional 48,589 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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