Wall Street brokerages forecast that Snap-on Incorporated (NYSE:SNA) will announce $990.61 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Snap-on’s earnings. The lowest sales estimate is $980.00 million and the highest is $999.00 million. Snap-on reported sales of $974.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.6%. The company is expected to issue its next quarterly earnings report on Thursday, February 14th.
According to Zacks, analysts expect that Snap-on will report full-year sales of $3.81 billion for the current fiscal year, with estimates ranging from $3.80 billion to $3.82 billion. For the next fiscal year, analysts expect that the business will post sales of $3.95 billion, with estimates ranging from $3.92 billion to $4.00 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Snap-on.
Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 18th. The company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.02. The company had revenue of $898.10 million during the quarter, compared to analysts’ expectations of $928.73 million. Snap-on had a return on equity of 21.35% and a net margin of 16.86%. Snap-on’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $2.45 earnings per share.
Several research analysts recently weighed in on the company. Zacks Investment Research cut Snap-on from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Barrington Research reiterated a “buy” rating on shares of Snap-on in a research report on Monday, July 16th. Robert W. Baird cut their price objective on Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday. B. Riley set a $205.00 price objective on Snap-on and gave the company a “buy” rating in a research report on Tuesday, July 17th. Finally, Northcoast Research cut Snap-on from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Snap-on has an average rating of “Hold” and a consensus target price of $192.00.
In other news, Chairman Nicholas T. Pinchuk sold 21,624 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $169.79, for a total value of $3,671,538.96. Following the completion of the sale, the chairman now directly owns 443,955 shares in the company, valued at $75,379,119.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Aldo John Pagliari sold 6,480 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $177.89, for a total value of $1,152,727.20. The disclosure for this sale can be found here. Insiders sold 32,395 shares of company stock valued at $5,553,865 over the last 90 days. Company insiders own 4.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Snap-on by 1.4% during the second quarter. BlackRock Inc. now owns 3,855,275 shares of the company’s stock worth $619,621,000 after purchasing an additional 53,689 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Snap-on by 3.4% during the first quarter. Principal Financial Group Inc. now owns 1,048,534 shares of the company’s stock worth $154,702,000 after purchasing an additional 34,012 shares in the last quarter. Earnest Partners LLC increased its position in shares of Snap-on by 3.8% during the second quarter. Earnest Partners LLC now owns 1,020,188 shares of the company’s stock worth $163,965,000 after purchasing an additional 37,244 shares in the last quarter. Northern Trust Corp increased its position in shares of Snap-on by 2.1% during the second quarter. Northern Trust Corp now owns 977,655 shares of the company’s stock worth $157,129,000 after purchasing an additional 20,179 shares in the last quarter. Finally, Ariel Investments LLC increased its position in shares of Snap-on by 10.0% during the second quarter. Ariel Investments LLC now owns 929,933 shares of the company’s stock worth $149,459,000 after purchasing an additional 84,287 shares in the last quarter.
SNA stock traded up $0.27 during trading on Wednesday, hitting $150.78. 1,109,200 shares of the company traded hands, compared to its average volume of 661,486. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.30. The stock has a market cap of $8.45 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.23 and a beta of 1.15. Snap-on has a 1 year low of $141.63 and a 1 year high of $189.46.
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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