Snap-on Incorporated (NYSE:SNA) to Post Q2 2024 Earnings of $4.86 Per Share, Roth Capital Forecasts

Snap-on Incorporated (NYSE:SNA) – Investment analysts at Roth Capital cut their Q2 2024 earnings estimates for Snap-on in a research report issued on Friday, April 19th. Roth Capital analyst S. Stember now expects that the company will earn $4.86 per share for the quarter, down from their prior forecast of $5.00. The consensus estimate for Snap-on’s current full-year earnings is $19.24 per share. Roth Capital also issued estimates for Snap-on’s Q1 2025 earnings at $5.13 EPS, Q2 2025 earnings at $5.42 EPS and FY2025 earnings at $20.79 EPS.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $4.60 EPS. The company’s revenue was down .1% compared to the same quarter last year.

Several other equities analysts have also recently issued reports on the stock. Roth Mkm restated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research note on Thursday, April 18th. Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Robert W. Baird cut their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $316.75.

Snap-on Trading Down 0.1 %

Snap-on stock opened at $268.56 on Monday. Snap-on has a one year low of $247.68 and a one year high of $298.49. The business’s fifty day moving average is $283.80 and its 200 day moving average is $278.68. The stock has a market capitalization of $14.16 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were given a $1.86 dividend. The ex-dividend date was Friday, February 23rd. This represents a $7.44 annualized dividend and a yield of 2.77%. Snap-on’s payout ratio is presently 39.03%.

Insiders Place Their Bets

In other news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,368 shares of company stock worth $13,399,449. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Snap-on

Institutional investors and hedge funds have recently modified their holdings of the company. Confluence Investment Management LLC bought a new position in shares of Snap-on in the first quarter worth about $173,451,000. Norges Bank purchased a new position in Snap-on in the 4th quarter worth approximately $145,665,000. Nordea Investment Management AB boosted its stake in Snap-on by 52.8% in the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after purchasing an additional 298,727 shares during the period. Envestnet Asset Management Inc. grew its holdings in Snap-on by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock valued at $188,355,000 after buying an additional 147,997 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Snap-on by 1,416.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock valued at $42,649,000 after buying an additional 137,920 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.