Snap-On Incorporated (SNA) Set to Announce Quarterly Earnings on Thursday
Snap-On Incorporated (NYSE:SNA) will announce its earnings results before the market opens on Thursday, October 19th. Analysts expect the company to announce earnings of $2.43 per share for the quarter.
Snap-On (NYSE:SNA) last announced its quarterly earnings results 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 business had revenue of $921.40 million during the quarter, compared to analyst estimates 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 previous year, the business posted $2.36 EPS. On average, analysts expect Snap-On to post $10.09 EPS for the current fiscal year and $11.15 EPS for the next fiscal year.
Shares of Snap-On Incorporated (NYSE:SNA) opened at 150.94 on Thursday. The firm’s 50-day moving average is $147.65 and its 200-day moving average is $156.93. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 15.63 and a beta of 1.05. Snap-On Incorporated has a 52 week low of $140.83 and a 52 week high of $181.73.
Snap-On declared that its Board of Directors has approved a stock repurchase plan on Monday, August 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Several equities analysts have commented on the company. BidaskClub raised Snap-On from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. FBR & Co set a $205.00 price objective on Snap-On and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $175.00 price objective on shares of Snap-On in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $197.00.
In related news, Director Ruth Ann M. Gillis purchased 265 shares of Snap-On stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost of $152.58 per share, for a total transaction of $40,433.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Iain Boyd sold 18,418 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $147.54, for a total value of $2,717,391.72. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.
WARNING: “Snap-On Incorporated (SNA) Set to Announce Quarterly Earnings on Thursday” was originally published by American Banking News and is the property of of American Banking News. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/12/snap-on-incorporated-sna-set-to-announce-quarterly-earnings-on-thursday.html.
Snap-On Company Profile
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.
Receive News & Ratings for Snap-On Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-On Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.