Snap-on Incorporated (SNA) Expected to Post Earnings of $2.93 Per Share

Equities research analysts expect Snap-on Incorporated (NYSE:SNA) to report earnings per share (EPS) of $2.93 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Snap-on’s earnings. The lowest EPS estimate is $2.88 and the highest is $2.95. Snap-on posted earnings of $2.79 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The company is expected to report its next earnings report on Thursday, April 18th.

Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Snap-on.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 7th. The company reported $3.03 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.03. The company had revenue of $952.50 million during the quarter, compared to the consensus estimate of $968.74 million. Snap-on had a net margin of 18.18% and a return on equity of 21.62%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.69 earnings per share.

Several research firms recently commented on SNA. TheStreet upgraded shares of Snap-on from a “c+” rating to a “b-” rating in a research note on Friday, January 11th. Zacks Investment Research raised shares of Snap-on from a “sell” rating to a “hold” rating in a report on Monday, February 18th. Finally, Bank of America began coverage on shares of Snap-on in a report on Friday, December 21st. They issued a “buy” rating and a $165.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Snap-on has a consensus rating of “Buy” and an average target price of $190.33.

NYSE:SNA traded up $2.26 during trading hours on Monday, hitting $159.87. 460,685 shares of the company traded hands, compared to its average volume of 707,415. The stock has a market cap of $8.77 billion, a P/E ratio of 13.54, a PEG ratio of 1.35 and a beta of 1.34. Snap-on has a twelve month low of $135.29 and a twelve month high of $189.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.33 and a quick ratio of 1.62.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Monday, February 25th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, February 22nd. Snap-on’s payout ratio is 32.18%.

In other news, SVP Thomas L. Kassouf sold 18,657 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $161.24, for a total value of $3,008,254.68. Following the sale, the senior vice president now owns 3,920 shares of the company’s stock, valued at approximately $632,060.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William Dudley Lehman sold 387 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was 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 approximately $1,571,271.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,977 shares of company stock worth $10,435,589. 4.00% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Man Group plc bought a new position in Snap-on during the 3rd quarter worth approximately $6,028,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Snap-on by 3.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 176,604 shares of the company’s stock worth $32,424,000 after buying an additional 5,533 shares during the period. Deprince Race & Zollo Inc. raised its holdings in Snap-on by 4.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 149,730 shares of the company’s stock worth $21,754,000 after buying an additional 6,034 shares during the period. Vident Investment Advisory LLC acquired a new stake in Snap-on during the 3rd quarter worth approximately $422,000. Finally, Point72 Asset Management L.P. acquired a new stake in Snap-on during the 3rd quarter worth approximately $5,160,000.

About Snap-on

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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