Snap-on Incorporated (SNA) Expected to Post Quarterly Sales of $990.61 Million

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Equities research analysts expect that Snap-on Incorporated (NYSE:SNA) will post sales of $990.61 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Snap-on’s earnings. The highest sales estimate is $999.00 million and the lowest is $980.00 million. Snap-on reported sales of $974.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.6%. The company is scheduled to issue its next quarterly earnings results on Thursday, February 14th.

According to Zacks, analysts expect that Snap-on will report full-year sales of $3.81 billion for the current year, with estimates ranging from $3.80 billion to $3.82 billion. For the next year, analysts forecast that the business will report sales of $3.95 billion, with estimates ranging from $3.92 billion to $4.00 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Snap-on.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, October 18th. The company reported $2.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.02. The firm had revenue of $898.10 million for the quarter, compared to analyst estimates of $928.73 million. Snap-on had a net margin of 16.86% and a return on equity of 21.35%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.45 earnings per share.

Several research firms recently commented on SNA. Zacks Investment Research lowered shares of Snap-on from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Barrington Research restated a “buy” rating on shares of Snap-on in a research report on Monday, July 16th. Robert W. Baird dropped their price target on shares of Snap-on from $216.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday. B. Riley set a $205.00 price target on shares of Snap-on and gave the company a “buy” rating in a research report on Tuesday, July 17th. Finally, Northcoast Research lowered shares of Snap-on from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Snap-on currently has a consensus rating of “Buy” and a consensus price target of $192.00.

SNA stock traded down $0.96 during midday trading on Wednesday, hitting $150.51. 1,545,110 shares of the stock traded hands, compared to its average volume of 748,024. The firm has a market cap of $8.54 billion, a PE ratio of 14.87, a P/E/G ratio of 1.24 and a beta of 1.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.60 and a current ratio of 2.31. Snap-on has a 1-year low of $141.63 and a 1-year high of $189.46.

In other news, Chairman Nicholas T. Pinchuk sold 21,624 shares of Snap-on stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $169.79, for a total value of $3,671,538.96. Following the sale, the chairman now owns 443,955 shares in the company, valued at $75,379,119.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Aldo John Pagliari sold 6,480 shares of Snap-on stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $177.89, for a total transaction of $1,152,727.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,395 shares of company stock worth $5,553,865. Company insiders own 4.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SNA. Russell Investments Group Ltd. lifted its stake in shares of Snap-on by 3.0% in the first quarter. Russell Investments Group Ltd. now owns 52,126 shares of the company’s stock worth $7,683,000 after buying an additional 1,536 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Snap-on in the first quarter worth about $645,000. The Manufacturers Life Insurance Company lifted its stake in shares of Snap-on by 17.8% in the first quarter. The Manufacturers Life Insurance Company now owns 66,372 shares of the company’s stock worth $9,793,000 after buying an additional 10,018 shares in the last quarter. Natixis lifted its stake in shares of Snap-on by 47.2% in the first quarter. Natixis now owns 15,859 shares of the company’s stock worth $2,340,000 after buying an additional 5,088 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Snap-on by 8.6% in the first quarter. LPL Financial LLC now owns 8,827 shares of the company’s stock worth $1,302,000 after buying an additional 696 shares in the last quarter.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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

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