Snap-On Inc. (NYSE:SNA) – Northcoast Research boosted their FY2016 EPS estimates for Snap-On in a report released on Tuesday. Northcoast Research analyst T. Hayes now anticipates that the brokerage will post earnings per share of $9.18 for the year, up from their prior forecast of $9.14. Northcoast Research also issued estimates for Snap-On’s Q4 2016 earnings at $2.44 EPS and Q4 2017 earnings at $2.74 EPS.

Separately, Zacks Investment Research raised Snap-On from a “hold” rating to a “buy” rating and set a $191.00 price target for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $178.87.

Earnings History and Estimates for Snap-On (NYSE:SNA)

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Shares of Snap-On (NYSE:SNA) opened at 170.58 on Friday. Snap-On has a 52-week low of $133.09 and a 52-week high of $174.52. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 19.04 and a beta of 1.08. The firm has a 50-day moving average price of $157.79 and a 200-day moving average price of $156.31.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 20th. The company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $834.10 million for the quarter, compared to analyst estimates of $709.70 million. Snap-On had a return on equity of 20.73% and a net margin of 15.67%. Snap-On’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 EPS.

A number of large investors have recently bought and sold shares of SNA. Jacobi Capital Management LLC increased its stake in Snap-On by 16.7% in the third quarter. Jacobi Capital Management LLC now owns 700 shares of the company’s stock worth $105,000 after buying an additional 100 shares during the period. Mizuho Asset Management Co. Ltd. increased its stake in Snap-On by 48.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 711 shares of the company’s stock worth $112,000 after buying an additional 232 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Snap-On by 117.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 776 shares of the company’s stock worth $122,000 after buying an additional 419 shares during the period. Robecosam AG purchased a new stake in Snap-On during the third quarter worth about $146,000. Finally, Penserra Capital Management LLC increased its stake in Snap-On by 95.1% in the third quarter. Penserra Capital Management LLC now owns 989 shares of the company’s stock worth $149,000 after buying an additional 482 shares during the period. 87.42% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Northcoast Research Weighs in on Snap-On Inc.’s FY2016 Earnings (SNA)” was originally reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this news story on another site, it was stolen and reposted in violation of US & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2016/11/27/northcoast-research-weighs-in-on-snap-on-inc-s-fy2016-earnings-sna.html.

In other Snap-On news, VP Jeanne M. Moreno sold 500 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $160.30, for a total transaction of $80,150.00. Following the completion of the sale, the vice president now owns 7,027 shares of the company’s stock, valued at $1,126,428.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Thomas L. Kassouf sold 20,000 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were 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 approximately $7,655,154.78. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 18th will be given a $0.71 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase from Snap-On’s previous quarterly dividend of $0.61. Snap-On’s payout ratio is currently 31.70%.

About Snap-On

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.

5 Day Chart for NYSE:SNA

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