Snap-On Inc. (SNA) Scheduled to Post Quarterly Earnings on Thursday
Snap-On Inc. (NYSE:SNA) will be issuing its Q316 quarterly earnings data on Thursday, October 20th. Analysts expect the company to announce earnings of $2.15 per share and revenue of $709.70 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.
Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 21st. The company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.13. Snap-On had a return on equity of 20.78% and a net margin of 15.28%. The company earned $872.30 million during the quarter, compared to analyst estimates of $876.70 million. During the same quarter in the previous year, the company posted $2.03 EPS. Snap-On’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts expect Snap-On to post $9.09 EPS for the current fiscal year and $9.96 EPS for the next fiscal year.
Shares of Snap-On Inc. (NYSE:SNA) opened at 149.17 on Tuesday. The stock has a 50 day moving average price of $150.27 and a 200-day moving average price of $156.05. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 17.10 and a beta of 1.23. Snap-On Inc. has a 1-year low of $133.09 and a 1-year high of $174.52.
A number of brokerages have issued reports on SNA. Zacks Investment Research lowered Snap-On from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Robert W. Baird reiterated a “buy” rating on shares of Snap-On in a research note on Tuesday, June 28th. Finally, CL King began coverage on Snap-On in a research note on Monday, June 27th. They issued a “buy” rating and a $174.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Snap-On presently has an average rating of “Buy” and a consensus price target of $175.07.
In other news, SVP Thomas J. Ward sold 42,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $151.60, for a total transaction of $6,367,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Thomas L. Kassouf sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $153.29, for a total value of $306,580.00. Following the transaction, the senior vice president now owns 26,612 shares of the company’s stock, valued at approximately $4,079,353.48. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. National Pension Service raised its position in shares of Snap-On by 12.0% in the second quarter. National Pension Service now owns 47,864 shares of the company’s stock worth $7,554,000 after buying an additional 5,145 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Snap-On by 2.3% in the second quarter. Alliancebernstein L.P. now owns 107,432 shares of the company’s stock worth $16,955,000 after buying an additional 2,412 shares during the last quarter. GAM Holding AG raised its position in shares of Snap-On by 4.0% in the second quarter. GAM Holding AG now owns 4,066 shares of the company’s stock worth $642,000 after buying an additional 155 shares during the last quarter. Tredje AP fonden purchased a new position in shares of Snap-On during the second quarter worth $396,000. Finally, Advantus Capital Management Inc raised its position in shares of Snap-On by 1.8% in the second quarter. Advantus Capital Management Inc now owns 5,810 shares of the company’s stock worth $917,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.
Snap-On Company Profile
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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