Snap-on Incorporated to Post Q1 2018 Earnings of $2.71 Per Share, Oppenheimer Forecasts (SNA)

Snap-on Incorporated (NYSE:SNA) – Analysts at Oppenheimer boosted their Q1 2018 earnings per share estimates for shares of Snap-on in a research report issued to clients and investors on Thursday. Oppenheimer analyst C. Glynn now forecasts that the company will post earnings per share of $2.71 for the quarter, up from their previous estimate of $2.48. Oppenheimer has a “Buy” rating and a $177.00 price target on the stock. Oppenheimer also issued estimates for Snap-on’s Q2 2018 earnings at $2.87 EPS, Q3 2018 earnings at $2.79 EPS and Q4 2018 earnings at $3.00 EPS.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 8th. The company reported $2.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.03. The company had revenue of $974.60 million during the quarter, compared to analysts’ expectations of $940.50 million. Snap-on had a return on equity of 20.54% and a net margin of 15.13%. Snap-on’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.47 EPS.

Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Snap-on from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. B. Riley restated a “buy” rating and issued a $205.00 price objective on shares of Snap-on in a report on Thursday, January 4th. FBR & Co restated a “buy” rating and issued a $205.00 price objective on shares of Snap-on in a report on Thursday, October 19th. Barrington Research upgraded Snap-on from a “market perform” rating to an “outperform” rating and set a $185.00 price objective for the company in a report on Monday, October 23rd. Finally, Jefferies Group reiterated a “hold” rating and set a $175.00 price target on shares of Snap-on in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $195.50.

Snap-on (NYSE SNA) opened at $158.81 on Monday. The firm has a market capitalization of $9,053.28, a PE ratio of 16.68, a PEG ratio of 1.21 and a beta of 1.09. The company has a quick ratio of 1.22, a current ratio of 1.78 and a debt-to-equity ratio of 0.25. Snap-on has a 1-year low of $140.83 and a 1-year high of $185.47.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNA. Vaughan Nelson Investment Management L.P. raised its position in shares of Snap-on by 107.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 694,612 shares of the company’s stock valued at $103,506,000 after buying an additional 359,772 shares in the last quarter. Findlay Park Partners LLP raised its position in shares of Snap-on by 64.4% in the third quarter. Findlay Park Partners LLP now owns 715,000 shares of the company’s stock valued at $106,542,000 after buying an additional 280,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Snap-on by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock valued at $488,847,000 after buying an additional 270,905 shares in the last quarter. First Trust Advisors LP raised its position in shares of Snap-on by 147.6% in the fourth quarter. First Trust Advisors LP now owns 433,341 shares of the company’s stock valued at $75,531,000 after buying an additional 258,310 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Snap-on by 30.7% in the third quarter. Principal Financial Group Inc. now owns 849,256 shares of the company’s stock valued at $126,547,000 after buying an additional 199,647 shares in the last quarter. Institutional investors own 99.98% of the company’s stock.

In other Snap-on news, CEO Nicholas T. Pinchuk sold 20,680 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $174.55, for a total transaction of $3,609,694.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

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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.

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