Equities research analysts expect that Snap-on Incorporated (NYSE:SNA) will announce earnings of $3.20 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Snap-on’s earnings, with estimates ranging from $3.15 to $3.25. Snap-on reported earnings per share of $3.11 in the same quarter last year, which would indicate a positive year over year growth rate of 2.9%. The company is expected to issue its next earnings report on Thursday, July 18th.
Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Snap-on.
Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 18th. The company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.10. Snap-on had a net margin of 18.18% and a return on equity of 21.62%. The company had revenue of $921.70 million for the quarter, compared to the consensus estimate of $933.13 million. During the same period in the previous year, the business earned $2.79 EPS. The company’s revenue was down 1.5% on a year-over-year basis.
A number of equities research analysts recently issued reports on SNA shares. TheStreet upgraded shares of Snap-on from a “c+” rating to a “b-” rating in a report on Friday, January 11th. Zacks Investment Research upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. Bank of America cut shares of Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 price objective for the company. in a report on Tuesday, April 16th. Finally, Robert W. Baird cut shares of Snap-on from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $186.00 to $160.00 in a report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $185.83.
NYSE SNA opened at $168.07 on Thursday. Snap-on has a 1-year low of $135.29 and a 1-year high of $189.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.62 and a current ratio of 2.33. The firm has a market capitalization of $9.34 billion, a PE ratio of 14.23, a P/E/G ratio of 1.44 and a beta of 1.26.
In other Snap-on news, Director William Dudley Lehman sold 387 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $157.19, for a total transaction of $60,832.53. Following the completion of the sale, the director now directly owns 9,996 shares in the company, valued at $1,571,271.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Nicholas T. Pinchuk sold 11,783 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $156.68, for a total transaction of $1,846,160.44. The disclosure for this sale can be found here. Insiders have sold 57,327 shares of company stock valued at $9,123,183 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Snap-on in the fourth quarter valued at approximately $62,430,000. Man Group plc bought a new position in Snap-on in the third quarter valued at approximately $6,028,000. Deprince Race & Zollo Inc. boosted its stake in Snap-on by 4.2% in the fourth quarter. Deprince Race & Zollo Inc. now owns 149,730 shares of the company’s stock valued at $21,754,000 after acquiring an additional 6,034 shares during the last quarter. Vident Investment Advisory LLC bought a new position in shares of Snap-on during the third quarter worth $422,000. Finally, Atlas Capital Advisors LLC boosted its position 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 in the last quarter.
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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