Snap-on (NYSE:SNA) Posts Quarterly Earnings Results

Snap-on (NYSE:SNA) posted its quarterly earnings results on Thursday. The company reported $4.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04, RTT News reports. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. During the same quarter in the prior year, the business posted $4.75 EPS.

Snap-on Stock Performance

Shares of SNA traded down $23.30 during mid-day trading on Thursday, reaching $332.80. The company had a trading volume of 291,837 shares, compared to its average volume of 384,876. The stock has a market capitalization of $17.48 billion, a P/E ratio of 17.20, a PEG ratio of 2.23 and a beta of 0.99. Snap-on has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a 50 day moving average of $349.05 and a two-hundred day moving average of $318.38. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Analysts Set New Price Targets

A number of research firms have commented on SNA. Barrington Research reissued an “outperform” rating and set a $360.00 target price on shares of Snap-on in a research report on Monday. Tigress Financial boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America lifted their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Robert W. Baird upped their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Roth Mkm lifted their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $347.40.

Insider Activity

In other news, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the transaction, the chief financial officer now owns 100,668 shares in the company, valued at $34,994,210.16. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,192 shares of company stock valued at $11,400,978 in the last three months. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Company Profile

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.