Wall Street brokerages expect that Snap-on Incorporated (NYSE:SNA) will post earnings per share of $3.20 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Snap-on’s earnings. The highest EPS estimate is $3.28 and the lowest is $3.15. Snap-on reported earnings per share of $3.11 in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The business is expected to issue its next quarterly earnings results on Thursday, July 18th.
Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Snap-on.
Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 18th. The company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.10. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. The company had revenue of $921.70 million during the quarter, compared to the consensus estimate of $933.13 million. During the same period in the prior year, the company earned $2.79 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year.
Several brokerages have issued reports on SNA. Zacks Investment Research downgraded Snap-on from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Bank of America downgraded Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 price target for the company. in a report on Tuesday, April 16th. Finally, Robert W. Baird cut Snap-on from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $186.00 to $160.00 in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $185.20.
Shares of Snap-on stock opened at $168.28 on Friday. Snap-on has a 1 year low of $135.29 and a 1 year high of $189.46. The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.62 and a beta of 1.28. The company has a quick ratio of 1.66, a current ratio of 2.42 and a debt-to-equity ratio of 0.29.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 21st will be given a $0.95 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.26%. Snap-on’s payout ratio is 32.18%.
In other news, Director William Dudley Lehman sold 387 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $157.19, for a total value of $60,832.53. Following the completion of the sale, the director now directly owns 9,996 shares of the company’s stock, valued at $1,571,271.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Iain Boyd sold 26,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $158.79, for a total value of $4,207,935.00. Following the completion of the sale, the vice president now directly owns 19,038 shares of the company’s stock, valued at $3,023,044.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,327 shares of company stock valued at $12,687,933. Insiders own 3.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Snap-on during the fourth quarter worth approximately $62,430,000. Deprince Race & Zollo Inc. increased its stake in shares of Snap-on by 4.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 149,730 shares of the company’s stock worth $21,754,000 after purchasing an additional 6,034 shares during the period. Atlas Capital Advisors LLC increased its stake in shares of Snap-on by 1,158.3% during the fourth quarter. Atlas Capital Advisors LLC now owns 453 shares of the company’s stock worth $66,000 after purchasing an additional 417 shares during the period. Actinver Wealth Management Inc. bought a new position in shares of Snap-on during the fourth quarter worth approximately $291,000. Finally, Northpointe Capital LLC bought a new position in shares of Snap-on during the fourth quarter worth approximately $2,573,000.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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