Snap-on (NYSE:SNA) Posts Quarterly Earnings Results, Beats Estimates By $0.58 EPS

Snap-on (NYSE:SNA) issued its earnings results on Thursday. The company reported $3.76 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.58, MarketWatch Earnings reports. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $976.23 million. Snap-on had a return on equity of 18.44% and a net margin of 18.13%. The firm’s revenue was up 49.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.91 EPS.

Snap-on stock opened at $221.58 on Friday. Snap-on has a 12 month low of $138.94 and a 12 month high of $259.99. The company has a current ratio of 2.47, a quick ratio of 1.88 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $234.48. The stock has a market capitalization of $11.98 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Friday, May 28th were paid a $1.23 dividend. The ex-dividend date of this dividend was Thursday, May 20th. This represents a $4.92 annualized dividend and a yield of 2.22%. Snap-on’s payout ratio is 42.30%.

In other Snap-on news, VP Richard K. Strege sold 1,200 shares of the business’s stock in a transaction on Wednesday, April 28th. The shares were sold at an average price of $238.79, for a total transaction of $286,548.00. Following the sale, the vice president now owns 3,271 shares of the company’s stock, valued at approximately $781,082.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,507 shares of the company’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $238.12, for a total transaction of $5,835,606.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,671 shares of company stock worth $13,911,318. 4.20% of the stock is owned by company insiders.

A number of analysts have commented on the company. Barrington Research boosted their price objective on Snap-on from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, April 23rd. Robert W. Baird boosted their target price on Snap-on from $230.00 to $239.00 and gave the stock a “neutral” rating in a research note on Friday, June 18th. Finally, Zacks Investment Research downgraded Snap-on from a “buy” rating to a “hold” rating and set a $232.00 target price on the stock. in a research note on Thursday, June 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $197.50.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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Earnings History for Snap-on (NYSE:SNA)

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