Zacks: Brokerages Anticipate Snap-on Incorporated (SNA) Will Announce Quarterly Sales of $954.34 Million

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Wall Street analysts forecast that Snap-on Incorporated (NYSE:SNA) will post $954.34 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Snap-on’s earnings, with the lowest sales estimate coming in at $936.00 million and the highest estimate coming in at $971.30 million. Snap-on reported sales of $954.60 million in the same quarter last year, which would suggest a negative year over year growth rate of 0%. The business is expected to report its next earnings report on Thursday, July 18th.

According to Zacks, analysts expect that Snap-on will report full-year sales of $3.77 billion for the current financial year, with estimates ranging from $3.71 billion to $3.82 billion. For the next financial year, analysts expect that the business will post sales of $3.89 billion, with estimates ranging from $3.84 billion to $3.95 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Snap-on.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 18th. The company reported $3.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $0.10. Snap-on had a net margin of 18.64% and a return on equity of 21.66%. The company had revenue of $921.70 million for the quarter, compared to analysts’ expectations of $933.13 million. During the same quarter last year, the company posted $2.79 earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis.

Several brokerages recently issued reports on SNA. Zacks Investment Research cut shares of Snap-on from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Bank of America cut shares of Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 target price on the stock. in a report on Tuesday, April 16th. Finally, Robert W. Baird cut shares of Snap-on from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $186.00 to $160.00 in a report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $185.20.

In other news, Chairman Nicholas T. Pinchuk sold 11,783 shares of Snap-on stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $156.68, for a total transaction of $1,846,160.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Iain Boyd sold 26,500 shares of Snap-on stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $158.79, for a total transaction of $4,207,935.00. Following the transaction, the vice president now owns 19,038 shares in the company, valued at approximately $3,023,044.02. The disclosure for this sale can be found here. Insiders have sold a total of 77,940 shares of company stock worth $12,627,100 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Teachers Advisors LLC lifted its stake in shares of Snap-on by 19.2% during the 3rd quarter. Teachers Advisors LLC now owns 140,829 shares of the company’s stock valued at $25,856,000 after buying an additional 22,672 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Snap-on by 4.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 191,592 shares of the company’s stock valued at $35,176,000 after buying an additional 8,374 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Snap-on by 9.6% during the 3rd quarter. Legal & General Group Plc now owns 340,293 shares of the company’s stock valued at $62,483,000 after buying an additional 29,913 shares in the last quarter. Morgan Stanley lifted its stake in shares of Snap-on by 348.6% during the 3rd quarter. Morgan Stanley now owns 623,240 shares of the company’s stock valued at $114,427,000 after buying an additional 484,317 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of Snap-on by 11,813.7% during the 3rd quarter. Federated Investors Inc. PA now owns 333,225 shares of the company’s stock valued at $61,180,000 after buying an additional 330,428 shares in the last quarter.

SNA stock traded down $2.28 on Tuesday, hitting $163.14. The company had a trading volume of 470,184 shares, compared to its average volume of 660,304. Snap-on has a 12-month low of $135.29 and a 12-month high of $189.46. The company has a current ratio of 2.42, a quick ratio of 1.66 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $9.09 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.58 and a beta of 1.28.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, May 20th. Snap-on’s dividend payout ratio is presently 32.18%.

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 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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