Q2 2024 EPS Estimates for Snap-on Incorporated Lowered by Analyst (NYSE:SNA)

Snap-on Incorporated (NYSE:SNA) – Stock analysts at Roth Capital decreased their Q2 2024 earnings per share (EPS) estimates for shares of Snap-on in a research note issued on Friday, April 19th. Roth Capital analyst S. Stember now anticipates that the company will post earnings per share of $4.86 for the quarter, down from their prior forecast of $5.00. The consensus estimate for Snap-on’s current full-year earnings is $19.24 per share. Roth Capital also issued estimates for Snap-on’s Q1 2025 earnings at $5.13 EPS, Q2 2025 earnings at $5.42 EPS and FY2025 earnings at $20.79 EPS.

Other equities research analysts have also issued research reports about the stock. Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Tigress Financial reiterated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. Robert W. Baird decreased their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Barrington Research reiterated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $316.75.

Snap-on Trading Up 1.0 %

NYSE SNA opened at $271.30 on Monday. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $14.30 billion, a P/E ratio of 14.23, a PEG ratio of 1.92 and a beta of 0.99. The business has a fifty day simple moving average of $283.80 and a 200 day simple moving average of $278.68. Snap-on has a 12 month low of $247.68 and a 12 month high of $298.49.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.60 EPS.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, February 23rd. Snap-on’s dividend payout ratio is 39.03%.

Insider Activity at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. Insiders sold 47,368 shares of company stock worth $13,399,449 in the last three months. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Snap-on

A number of hedge funds and other institutional investors have recently bought and sold shares of SNA. Wealth Advisory Solutions LLC purchased a new position in Snap-on in the first quarter worth about $232,000. Fifth Third Bancorp lifted its position in Snap-on by 2.0% during the first quarter. Fifth Third Bancorp now owns 17,781 shares of the company’s stock valued at $5,267,000 after purchasing an additional 352 shares during the period. KLR Investment Advisors LLC grew its position in Snap-on by 5.4% in the 1st quarter. KLR Investment Advisors LLC now owns 1,776 shares of the company’s stock worth $526,000 after purchasing an additional 91 shares during the period. Confluence Wealth Services Inc. purchased a new stake in Snap-on during the 1st quarter valued at $245,000. Finally, Kessler Investment Group LLC bought a new position in shares of Snap-on during the 1st quarter valued at $5,990,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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.