$3.35 Earnings Per Share Expected for Snap-on Incorporated (NYSE:SNA) This Quarter

Brokerages expect Snap-on Incorporated (NYSE:SNA) to announce $3.35 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Snap-on’s earnings, with the highest EPS estimate coming in at $3.57 and the lowest estimate coming in at $3.12. Snap-on posted earnings of $3.28 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 2.1%. The business is scheduled to issue its next earnings results on Thursday, October 28th.

Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Snap-on.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 22nd. The company reported $3.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.58. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $976.23 million. Snap-on had a return on equity of 20.51% and a net margin of 19.15%. Snap-on’s revenue was up 49.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.91 earnings per share.

A number of equities analysts recently weighed in on the company. Robert W. Baird reiterated a “hold” rating and issued a $240.00 price target on shares of Snap-on in a research report on Thursday, July 29th. Zacks Investment Research lowered Snap-on from a “buy” rating to a “hold” rating and set a $232.00 price target for the company. in a research report on Thursday, June 24th. Finally, Bank of America lowered Snap-on from a “neutral” rating to an “underperform” rating and set a $240.00 price target for the company. in a research report on Friday, September 17th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $210.17.

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,492 shares of the firm’s stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $227.29, for a total transaction of $5,566,786.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Concord Wealth Partners acquired a new stake in shares of Snap-on during the 1st quarter valued at about $27,000. Parkside Financial Bank & Trust raised its stake in shares of Snap-on by 76.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 164 shares of the company’s stock valued at $38,000 after acquiring an additional 71 shares in the last quarter. WASHINGTON TRUST Co raised its stake in shares of Snap-on by 33.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 200 shares of the company’s stock valued at $45,000 after acquiring an additional 50 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Snap-on in the 1st quarter valued at approximately $52,000. Finally, First Command Bank raised its stake in shares of Snap-on by 112.9% in the 2nd quarter. First Command Bank now owns 281 shares of the company’s stock valued at $63,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

NYSE:SNA opened at $210.00 on Wednesday. The business’s 50-day moving average price is $222.37 and its 200 day moving average price is $230.32. The firm has a market cap of $11.33 billion, a P/E ratio of 14.62, a PEG ratio of 1.61 and a beta of 1.28. Snap-on has a 52-week low of $138.94 and a 52-week high of $259.99. The company has a quick ratio of 1.95, a current ratio of 2.58 and a debt-to-equity ratio of 0.29.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 20th were given a dividend of $1.23 per share. The ex-dividend date was Thursday, August 19th. This represents a $4.92 dividend on an annualized basis and a yield of 2.34%. Snap-on’s payout ratio is presently 42.30%.

Snap-on Company Profile

Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education.

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

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