Zacks: Analysts Anticipate Snap-On Incorporated (SNA) Will Post Earnings of $2.66 Per Share
Wall Street brokerages expect Snap-On Incorporated (NYSE:SNA) to report $2.66 earnings per share for the current quarter, Zacks reports. Six analysts have issued estimates for Snap-On’s earnings, with estimates ranging from $2.54 to $2.73. Snap-On reported earnings per share of $2.47 during the same quarter last year, which would indicate a positive year over year growth rate of 7.7%. The company is scheduled to report its next quarterly earnings report on Thursday, February 1st.
Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Snap-On.
Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, topping the 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 business had revenue of $903.80 million during the quarter, compared to the consensus estimate of $889.22 million. During the same period in the prior year, the company earned $2.22 EPS. Snap-On’s revenue for the quarter was up 8.4% on a year-over-year basis.
Several analysts recently weighed in on SNA shares. FBR & Co restated an “outperform” rating and issued a $205.00 price target on shares of Snap-On in a research note on Tuesday, July 11th. Zacks Investment Research downgraded Snap-On from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub downgraded Snap-On from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Robert W. Baird restated an “outperform” rating and issued a $197.00 price target on shares of Snap-On in a research note on Wednesday, August 2nd. Finally, Longbow Research downgraded Snap-On from a “buy” rating to a “neutral” rating in a research note on Monday, August 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Snap-On has a consensus rating of “Hold” and an average target price of $192.00.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its stake in Snap-On by 48.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 30,523 shares of the company’s stock valued at $4,548,000 after purchasing an additional 9,915 shares during the last quarter. FDx Advisors Inc. boosted its stake in Snap-On by 16.6% during the 3rd quarter. FDx Advisors Inc. now owns 10,631 shares of the company’s stock valued at $1,584,000 after purchasing an additional 1,511 shares during the last quarter. Alps Advisors Inc. boosted its stake in Snap-On by 11.5% during the 3rd quarter. Alps Advisors Inc. now owns 3,149 shares of the company’s stock valued at $469,000 after purchasing an additional 324 shares during the last quarter. Pax World Management LLC boosted its stake in Snap-On by 100.0% during the 3rd quarter. Pax World Management LLC now owns 10,000 shares of the company’s stock valued at $1,490,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Snap-On by 2.8% during the 3rd quarter. Bessemer Group Inc. now owns 865,430 shares of the company’s stock valued at $128,959,000 after purchasing an additional 23,656 shares during the last quarter. Institutional investors and hedge funds own 94.96% of the company’s stock.
Shares of Snap-On (NYSE SNA) opened at $158.22 on Friday. The stock has a market capitalization of $9,035.64, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.22.
Snap-On announced that its Board of Directors has approved a stock repurchase plan on Monday, August 7th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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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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