Equities analysts expect Snap-On Incorporated (NYSE:SNA) to report $889.28 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for Snap-On’s earnings. The lowest sales estimate is $867.00 million and the highest is $910.50 million. Snap-On reported sales of $834.10 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.6%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 19th.

According to Zacks, analysts expect that Snap-On will report full-year sales of $889.28 million for the current year, with estimates ranging from $3.57 billion to $3.66 billion. For the next year, analysts expect that the firm will post sales of $3.78 billion per share, with estimates ranging from $3.62 billion to $3.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Snap-On.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 20th. The company reported $2.60 EPS for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.05. The company had revenue of $921.40 million during the quarter, compared to the consensus estimate of $920.87 million. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. Snap-On’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.36 EPS.

Several equities analysts recently issued reports on the stock. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $200.00 price objective on shares of Snap-On in a research note on Thursday, June 1st. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 price objective on shares of Snap-On in a research report on Wednesday, May 31st. BidaskClub raised shares of Snap-On from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised shares of Snap-On from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, FBR & Co restated an “outperform” rating and issued a $205.00 target price on shares of Snap-On in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Snap-On has an average rating of “Hold” and an average price target of $197.86.

Shares of Snap-On (NYSE SNA) opened at 147.00 on Friday. The firm has a 50-day moving average of $149.16 and a 200-day moving average of $160.52. Snap-On has a 12-month low of $140.83 and a 12-month high of $181.73. The firm has a market cap of $8.46 billion, a P/E ratio of 15.22 and a beta of 1.05.

Snap-On declared that its Board of Directors has approved a stock repurchase program on Monday, August 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were paid a $0.71 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.84 annualized dividend and a dividend yield of 1.93%. Snap-On’s dividend payout ratio is currently 29.34%.

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In related news, VP Iain Boyd sold 18,418 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $147.54, for a total transaction of $2,717,391.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ruth Ann M. Gillis purchased 265 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average price of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. Company insiders own 3.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SNA. BlackRock Inc. raised its position in Snap-On by 2,077.9% during the first quarter. BlackRock Inc. now owns 3,638,208 shares of the company’s stock valued at $613,657,000 after acquiring an additional 3,471,155 shares in the last quarter. Koch Industries Inc. raised its position in shares of Snap-On by 64,484.7% in the second quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock valued at $912,000 after purchasing an additional 916,327 shares during the period. Boston Partners bought a new position in shares of Snap-On in the second quarter valued at approximately $100,171,000. Alliancebernstein L.P. raised its position in shares of Snap-On by 428.7% in the first quarter. Alliancebernstein L.P. now owns 547,616 shares of the company’s stock valued at $92,366,000 after purchasing an additional 444,039 shares during the period. Finally, Findlay Park Partners LLP bought a new position in shares of Snap-On in the first quarter valued at approximately $73,371,000. 93.77% of the stock is currently owned by hedge funds and other institutional investors.

About Snap-On

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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Earnings History and Estimates for Snap-On (NYSE:SNA)

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