Snap-On Incorporated Announces Quarterly Dividend of $2.44 (NYSE:SNA)

Snap-On Incorporated (NYSE:SNA) declared a quarterly dividend on Thursday, August 6th. Stockholders of record on Wednesday, August 19th will be given a dividend of 2.44 per share on Thursday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 19th.

Snap-On has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Snap-On has a payout ratio of 48.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Snap-On to earn $21.13 per share next year, which means the company should continue to be able to cover its $9.76 annual dividend with an expected future payout ratio of 46.2%.

Snap-On Stock Performance

NYSE:SNA opened at $414.70 on Friday. The stock has a market cap of $21.45 billion, a P/E ratio of 21.15, a PEG ratio of 2.95 and a beta of 0.73. The firm has a 50-day moving average of $398.01 and a two-hundred day moving average of $381.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. Snap-On has a 1-year low of $319.20 and a 1-year high of $423.02.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm posted $4.72 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts expect that Snap-On will post 19.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SNA has been the subject of several research analyst reports. Barclays initiated coverage on Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective for the company. Tigress Financial upped their target price on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Roth Capital reiterated a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Finally, Robert W. Baird set a $415.00 target price on Snap-On in a research report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $426.20.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.