Wall Street brokerages forecast that Snap-on Incorporated (NYSE:SNA) will announce $937.94 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Snap-on’s earnings, with estimates ranging from $932.30 million to $945.00 million. Snap-on posted sales of $921.70 million in the same quarter last year, which suggests a positive year over year growth rate of 1.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, April 16th.
On average, analysts expect that Snap-on will report full year sales of $3.82 billion for the current financial year, with estimates ranging from $3.80 billion to $3.84 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.93 billion, with estimates ranging from $3.91 billion to $3.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Snap-on.
Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $3.08 earnings per share for the quarter, hitting the consensus estimate of $3.08. Snap-on had a net margin of 18.59% and a return on equity of 20.62%. The firm had revenue of $955.20 million for the quarter, compared to analysts’ expectations of $965.58 million. During the same period in the previous year, the company posted $3.03 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year.
SNA has been the topic of several research analyst reports. Tigress Financial restated a “buy” rating on shares of Snap-on in a report on Friday, October 25th. Robert W. Baird lowered their price target on shares of Snap-on from $169.00 to $159.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Northcoast Research restated a “neutral” rating on shares of Snap-on in a report on Friday, February 7th. ValuEngine upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Barrington Research restated a “buy” rating and set a $185.00 price target on shares of Snap-on in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Snap-on has an average rating of “Hold” and a consensus price target of $171.60.
NYSE SNA traded up $0.92 on Tuesday, hitting $156.26. 465,735 shares of the stock were exchanged, compared to its average volume of 391,943. The company’s 50-day moving average price is $164.94 and its two-hundred day moving average price is $159.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.71. Snap-on has a 52-week low of $143.12 and a 52-week high of $174.00. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.46 and a beta of 1.24.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Monday, February 24th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.76%. Snap-on’s dividend payout ratio is currently 35.24%.
In related news, SVP Thomas J. Ward sold 21,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $170.63, for a total value of $3,583,230.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy L. Chambers sold 4,320 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $156.54, for a total transaction of $676,252.80. Following the completion of the sale, the senior vice president now owns 14,056 shares of the company’s stock, valued at $2,200,326.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,990 shares of company stock worth $8,775,927. 3.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Snap-on by 11.3% in the fourth quarter. Bank of America Corp DE now owns 3,859,715 shares of the company’s stock worth $653,837,000 after purchasing an additional 393,396 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in Snap-on by 13.6% in the fourth quarter. GHP Investment Advisors Inc. now owns 14,470 shares of the company’s stock worth $2,451,000 after purchasing an additional 1,735 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Snap-on by 9.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 580,282 shares of the company’s stock worth $98,300,000 after purchasing an additional 50,634 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in Snap-on in the fourth quarter worth $1,088,000. Finally, Guggenheim Capital LLC boosted its holdings in Snap-on by 5.2% in the fourth quarter. Guggenheim Capital LLC now owns 81,970 shares of the company’s stock worth $13,885,000 after purchasing an additional 4,016 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.
Snap-on Company Profile
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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