Research Analysts Issue Forecasts for Snap-On Incorporated’s Q1 2018 Earnings (SNA)
Snap-On Incorporated (NYSE:SNA) – Equities researchers at Oppenheimer Holdings issued their Q1 2018 EPS estimates for Snap-On in a report released on Friday. Oppenheimer Holdings analyst C. Glynn anticipates that the company will post earnings of $2.48 per share for the quarter. Oppenheimer Holdings currently has a “Buy” rating and a $177.00 target price on the stock. Oppenheimer Holdings also issued estimates for Snap-On’s Q3 2018 earnings at $2.55 EPS and Q4 2018 earnings at $2.77 EPS.
Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The company had revenue of $903.80 million during the quarter, compared to the consensus estimate of $889.22 million. During the same quarter in the prior year, the business earned $2.22 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year.
Several other equities analysts also recently commented on the stock. FBR & Co set a $205.00 target price on shares of Snap-On and gave the stock a “buy” rating in a research report on Friday, July 21st. Zacks Investment Research downgraded shares of Snap-On from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. BidaskClub downgraded shares of Snap-On from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Longbow Research downgraded shares of Snap-On from a “buy” rating to a “neutral” rating in a research report on Monday, August 21st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $175.00 target price on shares of Snap-On in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $193.17.
Shares of Snap-On (NYSE:SNA) opened at 160.12 on Monday. The stock has a 50 day moving average price of $149.49 and a 200 day moving average price of $156.33. Snap-On has a 12 month low of $140.83 and a 12 month high of $181.73. The stock has a market cap of $9.22 billion, a P/E ratio of 16.58 and a beta of 1.05.
Large investors have recently modified their holdings of the company. Royce & Associates LP grew its position in shares of Snap-On by 7.4% in the second quarter. Royce & Associates LP now owns 36,500 shares of the company’s stock valued at $5,767,000 after purchasing an additional 2,500 shares during the last quarter. Blair William & Co. IL grew its position in shares of Snap-On by 6.5% in the second quarter. Blair William & Co. IL now owns 38,580 shares of the company’s stock valued at $6,096,000 after purchasing an additional 2,366 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Snap-On by 20.7% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,930 shares of the company’s stock valued at $2,359,000 after purchasing an additional 2,561 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Snap-On by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 257,225 shares of the company’s stock valued at $40,642,000 after purchasing an additional 9,614 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Snap-On by 5.2% in the second quarter. KBC Group NV now owns 62,268 shares of the company’s stock valued at $9,838,000 after purchasing an additional 3,060 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors.
In other Snap-On news, Director Ruth Ann M. Gillis purchased 265 shares of the stock in a transaction dated Friday, August 4th. The shares were bought at an average cost of $152.58 per share, with a total value of $40,433.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.
Snap-On announced that its Board of Directors has initiated a stock buyback plan on Monday, August 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
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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