Brokers Set Expectations for Snap-On Inc.’s FY2017 Earnings (SNA)
Snap-On Inc. (NYSE:SNA) – Equities researchers at Northcoast Research boosted their FY2017 earnings estimates for shares of Snap-On in a note issued to investors on Tuesday. Northcoast Research analyst T. Hayes now expects that the firm will post earnings per share of $10.24 for the year, up from their previous forecast of $10.20.
Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 20th. The company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. Snap-On had a return on equity of 20.73% and a net margin of 15.67%. The business had revenue of $834.10 million for the quarter, compared to analysts’ expectations of $709.70 million. During the same period last year, the business earned $1.98 EPS. The business’s revenue was up 1.5% on a year-over-year basis.
Separately, Zacks Investment Research downgraded Snap-On from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $178.87.
Shares of Snap-On (NYSE:SNA) traded down 0.64% during trading on Wednesday, reaching $169.69. The company’s stock had a trading volume of 197,670 shares. Snap-On has a one year low of $133.09 and a one year high of $174.52. The stock’s 50 day moving average is $156.59 and its 200 day moving average is $156.14. The firm has a market cap of $9.85 billion, a P/E ratio of 18.94 and a beta of 1.08.
A number of large investors have recently modified their holdings of SNA. Integrated Investment Consultants LLC boosted its stake in shares of Snap-On by 0.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,449 shares of the company’s stock valued at $387,000 after buying an additional 7 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Snap-On by 0.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,856 shares of the company’s stock valued at $434,000 after buying an additional 9 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Snap-On by 0.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 1,840 shares of the company’s stock valued at $280,000 after buying an additional 10 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Snap-On by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 5,547 shares of the company’s stock valued at $875,000 after buying an additional 14 shares during the last quarter. Finally, Montag & Caldwell LLC boosted its stake in shares of Snap-On by 0.3% in the second quarter. Montag & Caldwell LLC now owns 4,328 shares of the company’s stock valued at $683,000 after buying an additional 15 shares during the last quarter. 87.42% of the stock is currently owned by institutional investors.
In related news, SVP Thomas L. Kassouf sold 20,000 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $168.09, for a total value of $3,361,800.00. Following the sale, the senior vice president now directly owns 45,542 shares of the company’s stock, valued at $7,655,154.78. The sale 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 the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $151.60, for a total value of $6,367,200.00. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 18th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, November 16th. This is an increase from Snap-On’s previous quarterly dividend of $0.61. Snap-On’s dividend payout ratio is currently 31.70%.
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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