Wall Street brokerages expect that Snap-on Incorporated (NYSE:SNA) will report $914.86 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Snap-on’s earnings. The highest sales estimate is $923.30 million and the lowest is $903.00 million. Snap-on posted sales of $898.10 million during the same quarter last year, which suggests a positive year over year growth rate of 1.9%. The company is expected to report its next earnings results on Thursday, October 17th.
According to Zacks, analysts expect that Snap-on will report full-year sales of $3.76 billion for the current fiscal year, with estimates ranging from $3.74 billion to $3.79 billion. For the next year, analysts anticipate that the company will report sales of $3.86 billion, with estimates ranging from $3.84 billion to $3.88 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Snap-on.
Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, July 18th. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.01. The company had revenue of $951.30 million during the quarter, compared to analyst estimates of $959.33 million. Snap-on had a net margin of 18.70% and a return on equity of 21.40%. Snap-on’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.11 EPS.
SNA has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday, July 16th. ValuEngine downgraded shares of Vereit from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Bank of America downgraded shares of Propetro from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Barrington Research upped their price objective on shares of Lions Gate Entertainment to $18.00 and gave the company an “outperform” rating in a report on Wednesday, May 29th. Finally, Oppenheimer set a $312.00 price objective on shares of UnitedHealth Group and gave the company a “buy” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $172.60.
In other news, SVP Anup R. Banerjee sold 2,800 shares of Snap-on stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $150.40, for a total value of $421,120.00. Following the completion of the sale, the senior vice president now directly owns 128 shares of the company’s stock, valued at $19,251.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Nicholas T. Pinchuk sold 19,403 shares of Snap-on stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $164.60, for a total value of $3,193,733.80. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. CSat Investment Advisory L.P. increased its position in Snap-on by 81.4% in the 4th quarter. CSat Investment Advisory L.P. now owns 205 shares of the company’s stock valued at $30,000 after acquiring an additional 92 shares during the period. Signaturefd LLC lifted its position in shares of Snap-on by 326.7% during the first quarter. Signaturefd LLC now owns 192 shares of the company’s stock worth $30,000 after purchasing an additional 147 shares in the last quarter. FTB Advisors Inc. lifted its position in shares of Snap-on by 120.5% during the first quarter. FTB Advisors Inc. now owns 366 shares of the company’s stock worth $56,000 after purchasing an additional 200 shares in the last quarter. Zions Bancorporation N.A. acquired a new position in shares of Snap-on during the first quarter worth approximately $56,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Snap-on by 408.9% during the first quarter. Quadrant Capital Group LLC now owns 402 shares of the company’s stock worth $60,000 after purchasing an additional 323 shares in the last quarter.
SNA traded up $1.21 during mid-day trading on Friday, reaching $155.33. 305,295 shares of the stock were exchanged, compared to its average volume of 591,761. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.48 and a quick ratio of 1.70. The stock has a market capitalization of $8.51 billion, a PE ratio of 13.15, a PEG ratio of 1.50 and a beta of 1.24. The business has a 50 day moving average of $160.42. Snap-on has a 1 year low of $135.29 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. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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