Snap-On Incorporated (SNA) to Post Q3 2017 Earnings of $2.46 Per Share, Northcoast Research Forecasts
Snap-On Incorporated (NYSE:SNA) – Equities research analysts at Northcoast Research cut their Q3 2017 earnings per share (EPS) estimates for Snap-On in a report released on Friday. Northcoast Research analyst T. Hayes now forecasts that the company will post earnings of $2.46 per share for the quarter, down from their prior forecast of $2.49. Northcoast Research also issued estimates for Snap-On’s Q1 2018 earnings at $2.61 EPS, Q2 2018 earnings at $2.85 EPS, Q3 2018 earnings at $2.67 EPS and Q4 2018 earnings at $2.81 EPS.
SNA has been the topic of a number of other research reports. Jefferies Group LLC restated a “hold” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Snap-On in a research report on Sunday, April 23rd. Oppenheimer Holdings, Inc. initiated coverage on shares of Snap-On in a research report on Tuesday, April 11th. They issued an “outperform” rating and a $200.00 price objective on the stock. Zacks Investment Research cut shares of Snap-On from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. CIBC restated an “outperform” rating and issued a $200.00 price objective on shares of Snap-On in a research report on Wednesday, April 12th. Finally, BidaskClub cut shares of Snap-On from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $198.00.
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Shares of Snap-On (NYSE:SNA) opened at 147.51 on Monday. The firm’s 50-day moving average is $156.08 and its 200-day moving average is $166.28. Snap-On has a 12 month low of $145.17 and a 12 month high of $181.73. The company has a market cap of $8.49 billion, a PE ratio of 15.27 and a beta of 1.06.
Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 20th. The company reported $2.60 EPS for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.05. The business had revenue of $921.40 million for the quarter, compared to analysts’ expectations of $920.87 million. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.36 earnings per share.
Several institutional investors have recently made changes to their positions in the stock. Trust Department MB Financial Bank N A boosted its position in shares of Snap-On by 0.5% in the first quarter. Trust Department MB Financial Bank N A now owns 1,832 shares of the company’s stock valued at $309,000 after buying an additional 9 shares in the last quarter. Doyle Wealth Management boosted its position in shares of Snap-On by 0.3% in the second quarter. Doyle Wealth Management now owns 3,996 shares of the company’s stock valued at $631,000 after buying an additional 13 shares in the last quarter. Adirondack Trust Co. boosted its position in shares of Snap-On by 2.5% in the first quarter. Adirondack Trust Co. now owns 624 shares of the company’s stock valued at $105,000 after buying an additional 15 shares in the last quarter. Intrust Bank NA boosted its position in shares of Snap-On by 0.8% in the first quarter. Intrust Bank NA now owns 3,062 shares of the company’s stock valued at $516,000 after buying an additional 23 shares in the last quarter. Finally, Investment Management of Virginia LLC boosted its position in shares of Snap-On by 0.4% in the first quarter. Investment Management of Virginia LLC now owns 8,450 shares of the company’s stock valued at $1,425,000 after buying an additional 30 shares in the last quarter. Institutional investors own 91.13% of the company’s stock.
In related news, VP Iain Boyd sold 18,418 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $147.54, for a total transaction of $2,717,391.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.70% of the stock is owned by insiders.
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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