Snap-on Incorporated (NYSE:SNA) Expected to Announce Earnings of $2.97 Per Share

Analysts expect Snap-on Incorporated (NYSE:SNA) to announce $2.97 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Snap-on’s earnings, with estimates ranging from $2.90 to $3.08. Snap-on posted earnings of $2.88 per share in the same quarter last year, which suggests a positive year over year growth rate of 3.1%. The company is scheduled to report its next earnings report on Thursday, October 17th.

Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Snap-on.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 18th. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.01. Snap-on had a net margin of 18.70% and a return on equity of 21.40%. The company had revenue of $951.30 million for the quarter, compared to the consensus estimate of $959.33 million. During the same period in the prior year, the company posted $3.11 EPS. The company’s revenue was down .3% compared to the same quarter last year.



A number of research analysts have issued reports on the stock. Longbow Research restated a “hold” rating on shares of Snap-on in a research report on Monday, July 1st. Tigress Financial reaffirmed a “buy” rating on shares of Snap-on in a research note on Wednesday, July 24th. Northcoast Research reaffirmed a “neutral” rating on shares of Snap-on in a research note on Friday, May 17th. Robert W. Baird set a $164.00 price target on Snap-on and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $185.00 price target on shares of Snap-on in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $172.60.

Snap-on stock traded up $3.56 during trading hours on Friday, reaching $147.58. 9,388 shares of the company’s stock traded hands, compared to its average volume of 472,651. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 2.48. Snap-on has a fifty-two week low of $135.29 and a fifty-two week high of $189.46. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.47 and a beta of 1.25. The firm’s 50 day moving average is $155.71 and its 200-day moving average is $159.51.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.80 dividend on an annualized basis and a yield of 2.57%. Snap-on’s payout ratio is 32.18%.

In related news, Chairman Nicholas T. Pinchuk sold 19,403 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $164.60, for a total transaction of $3,193,733.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Anup R. Banerjee sold 2,800 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.40, for a total value of $421,120.00. Following the sale, the senior vice president now directly owns 128 shares of the company’s stock, valued at $19,251.20. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SNA. Waddell & Reed Financial Inc. boosted its holdings in shares of Snap-on by 7.9% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 121,709 shares of the company’s stock valued at $20,160,000 after buying an additional 8,952 shares during the last quarter. Pictet Asset Management Ltd. boosted its holdings in shares of Snap-on by 12.4% in the 2nd quarter. Pictet Asset Management Ltd. now owns 112,845 shares of the company’s stock valued at $18,692,000 after buying an additional 12,435 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Snap-on by 5,391.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 256,327 shares of the company’s stock valued at $42,458,000 after buying an additional 251,659 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Snap-on by 89.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 324,381 shares of the company’s stock valued at $53,730,000 after buying an additional 153,243 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Snap-on by 45.5% in the 2nd quarter. Victory Capital Management Inc. now owns 31,586 shares of the company’s stock valued at $5,232,000 after buying an additional 9,873 shares during the last quarter.

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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Earnings History and Estimates for Snap-on (NYSE:SNA)

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