Snap-on (SNA) to Release Quarterly Earnings on Thursday

Snap-on (NYSE:SNA) is set to release its earnings data before the market opens on Thursday, April 18th. Analysts expect Snap-on to post earnings of $4.66 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.42 earnings per share. 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 Trading Down 1.3 %

Shares of SNA opened at $285.83 on Tuesday. The company has a market capitalization of $15.10 billion, a P/E ratio of 15.24, a P/E/G ratio of 2.07 and a beta of 0.99. Snap-on has a one year low of $238.90 and a one year high of $298.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88. The stock has a 50-day moving average price of $284.18 and a 200 day moving average price of $278.04.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s dividend payout ratio is presently 39.68%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Tigress Financial reaffirmed a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $306.00.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,368 shares of company stock valued at $13,399,449. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Snap-on

A number of institutional investors have recently added to or reduced their stakes in SNA. Norges Bank acquired a new stake in Snap-on during the fourth quarter valued at approximately $112,490,000. Wellington Management Group LLP boosted its holdings in shares of Snap-on by 7,194.3% in the 1st quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock worth $49,551,000 after acquiring an additional 237,843 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Snap-on by 12.8% in the 4th quarter. Morgan Stanley now owns 758,417 shares of the company’s stock worth $173,291,000 after acquiring an additional 85,896 shares in the last quarter. National Pension Service boosted its holdings in shares of Snap-on by 440.1% in the 2nd quarter. National Pension Service now owns 103,772 shares of the company’s stock worth $29,778,000 after acquiring an additional 84,558 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Snap-on by 145.7% in the 1st quarter. Renaissance Technologies LLC now owns 119,900 shares of the company’s stock worth $24,637,000 after acquiring an additional 71,100 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.