Snap-on (SNA) Set to Announce Quarterly Earnings on Thursday

Snap-on (NYSE:SNA) will issue its quarterly earnings data before the market opens on Thursday, October 17th. Analysts expect the company to announce earnings of $4.58 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.13. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.89 EPS. On average, analysts expect Snap-on to post $19 EPS for the current fiscal year and $20 EPS for the next fiscal year.

Snap-on Price Performance

Shares of SNA opened at $287.45 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The company’s fifty day moving average price is $280.04 and its 200-day moving average price is $276.23. Snap-on has a 1-year low of $249.84 and a 1-year high of $298.49. The firm has a market capitalization of $15.14 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.99 and a beta of 0.98.

Snap-on declared that its Board of Directors has initiated a share buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.59%. Snap-on’s payout ratio is currently 39.03%.

Insider Activity

In related news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at $648,303.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the sale, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on SNA shares. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a report on Thursday, July 25th. Robert W. Baird reduced their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Friday, September 20th. Finally, Roth Mkm restated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th.

Snap-on Company Profile

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