Zacks: Analysts Anticipate Snap-On Incorporated (SNA) to Post $2.55 EPS

Wall Street brokerages expect Snap-On Incorporated (NYSE:SNA) to post earnings per share of $2.55 for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Snap-On’s earnings, with estimates ranging from $2.49 to $2.59. Snap-On reported earnings of $2.36 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.1%. The company is scheduled to announce its next quarterly earnings report on Thursday, July 20th.

Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Snap-On.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 20th. The company reported $2.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.34 by $0.05. Snap-On had a net margin of 16.07% and a return on equity of 20.94%. The company had revenue of $887.10 million for the quarter, compared to the consensus estimate of $877.30 million. During the same quarter in the previous year, the company earned $2.16 EPS. Snap-On’s quarterly revenue was up 6.3% compared to the same quarter last year.

SNA has been the topic of a number of research reports. Oppenheimer Holdings, Inc. initiated coverage on shares of Snap-On in a report on Tuesday, April 11th. They set an “outperform” rating and a $200.00 target price on the stock. CIBC restated an “outperform” rating and set a $200.00 target price on shares of Snap-On in a report on Wednesday, April 12th. Finally, Jefferies Group LLC restated a “hold” rating and set a $175.00 target price (up previously from $165.00) on shares of Snap-On in a report on Sunday, April 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Snap-On has an average rating of “Buy” and an average target price of $192.83.

Snap-On (SNA) traded up 1.15% on Wednesday, hitting $157.96. 660,099 shares of the company were exchanged. Snap-On has a 52 week low of $145.17 and a 52 week high of $181.73. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 16.75 and a beta of 1.04. The stock has a 50 day moving average of $164.15 and a 200 day moving average of $169.37.

The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 19th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Wednesday, May 17th. Snap-On’s dividend payout ratio is presently 30.08%.

In other news, VP Jeanne M. Moreno sold 12,459 shares of Snap-On stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $176.54, for a total value of $2,199,511.86. Following the completion of the transaction, the vice president now owns 10,486 shares of the company’s stock, valued at approximately $1,851,198.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Thomas J. Ward sold 42,000 shares of Snap-On stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $174.88, for a total value of $7,344,960.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of SNA. ETRADE Capital Management LLC acquired a new position in shares of Snap-On during the third quarter worth $481,000. Cadence Capital Management LLC raised its position in shares of Snap-On by 7.5% in the fourth quarter. Cadence Capital Management LLC now owns 1,726 shares of the company’s stock worth $296,000 after buying an additional 120 shares during the period. BP PLC acquired a new position in shares of Snap-On during the fourth quarter worth $1,199,000. ING Groep NV raised its position in shares of Snap-On by 57.2% in the fourth quarter. ING Groep NV now owns 3,331 shares of the company’s stock worth $573,000 after buying an additional 1,212 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Snap-On by 1.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 83,734 shares of the company’s stock worth $14,341,000 after buying an additional 817 shares during the period. 90.94% of the stock is owned by institutional investors and hedge funds.

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About Snap-On

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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