Wall Street brokerages predict that Snap-on Incorporated (NYSE:SNA) will post sales of $700.38 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Snap-on’s earnings, with the highest sales estimate coming in at $755.00 million and the lowest estimate coming in at $655.60 million. Snap-on posted sales of $951.30 million during the same quarter last year, which would suggest a negative year over year growth rate of 26.4%. The business is scheduled to issue its next quarterly earnings results on Thursday, July 16th.
On average, analysts expect that Snap-on will report full year sales of $3.22 billion for the current financial year, with estimates ranging from $3.12 billion to $3.35 billion. For the next fiscal year, analysts expect that the business will report sales of $3.42 billion, with estimates ranging from $3.31 billion to $3.49 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Snap-on.
Snap-on (NYSE:SNA) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $2.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.75 by ($0.15). Snap-on had a return on equity of 19.64% and a net margin of 17.83%. The business had revenue of $852.20 million during the quarter, compared to analysts’ expectations of $877.72 million. During the same quarter in the prior year, the firm earned $3.01 EPS. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year.
In other Snap-on news, CEO Nicholas T. Pinchuk sold 28,628 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $135.05, for a total transaction of $3,866,211.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC raised its position in Snap-on by 34.1% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 2,857 shares of the company’s stock valued at $311,000 after purchasing an additional 726 shares during the period. Morgan Stanley raised its position in Snap-on by 6.8% during the first quarter. Morgan Stanley now owns 253,095 shares of the company’s stock valued at $27,542,000 after purchasing an additional 16,034 shares during the period. Engineers Gate Manager LP purchased a new stake in Snap-on during the first quarter valued at approximately $1,506,000. Caxton Associates LP purchased a new stake in Snap-on during the first quarter valued at approximately $302,000. Finally, Royal London Asset Management Ltd. raised its position in Snap-on by 5.1% during the first quarter. Royal London Asset Management Ltd. now owns 135,877 shares of the company’s stock valued at $15,234,000 after purchasing an additional 6,623 shares during the period. 92.78% of the stock is owned by hedge funds and other institutional investors.
Shares of SNA stock traded up $1.66 during mid-day trading on Friday, hitting $137.76. The company’s stock had a trading volume of 6,405 shares, compared to its average volume of 622,276. Snap-on has a 52-week low of $90.72 and a 52-week high of $172.61. The business has a 50-day moving average price of $134.53 and a 200 day moving average price of $141.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.50. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.48 and a beta of 1.35.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Thursday, May 21st were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-on’s dividend payout ratio is presently 35.24%.
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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