Snap-on to Post Q2 2018 Earnings of $3.00 Per Share, Barrington Research Forecasts (SNA)

Snap-on (NYSE:SNA) – Equities research analysts at Barrington Research boosted their Q2 2018 earnings estimates for shares of Snap-on in a research report issued on Thursday, April 19th. Barrington Research analyst G. Prestopino now anticipates that the company will post earnings of $3.00 per share for the quarter, up from their previous forecast of $2.98. Barrington Research currently has a “Buy” rating on the stock. Barrington Research also issued estimates for Snap-on’s FY2018 earnings at $11.27 EPS, Q1 2019 earnings at $3.04 EPS and Q4 2019 earnings at $2.91 EPS.

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Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, April 19th. The company reported $2.79 EPS for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.06. The business had revenue of $935.50 million during the quarter, compared to the consensus estimate of $926.52 million. Snap-on had a return on equity of 20.63% and a net margin of 15.50%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $2.39 earnings per share.

SNA has been the subject of a number of other reports. B. Riley set a $205.00 price target on Snap-on and gave the stock a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research upgraded Snap-on from a “hold” rating to a “buy” rating and set a $206.00 price target for the company in a research note on Wednesday, January 17th. Finally, Robert W. Baird decreased their price target on Snap-on from $220.00 to $211.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $190.71.

NYSE:SNA opened at $146.84 on Monday. The stock has a market capitalization of $8,328.91, a P/E ratio of 14.51, a PEG ratio of 1.23 and a beta of 1.16. Snap-on has a one year low of $140.83 and a one year high of $185.47. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.28 and a quick ratio of 1.24.

Hedge funds have recently modified their holdings of the business. D.B. Root & Company LLC acquired a new position in Snap-on in the fourth quarter valued at approximately $229,000. Comerica Bank boosted its stake in Snap-on by 20.4% in the fourth quarter. Comerica Bank now owns 20,827 shares of the company’s stock valued at $3,806,000 after acquiring an additional 3,523 shares during the period. MetLife Investment Advisors LLC acquired a new position in Snap-on in the fourth quarter valued at approximately $3,074,000. Brandywine Global Investment Management LLC boosted its stake in Snap-on by 2.8% in the fourth quarter. Brandywine Global Investment Management LLC now owns 52,130 shares of the company’s stock valued at $9,087,000 after acquiring an additional 1,440 shares during the period. Finally, Sterling Capital Management LLC acquired a new position in Snap-on in the fourth quarter valued at approximately $21,130,000. Institutional investors own 99.40% of the company’s stock.

In other Snap-on news, Director Nathan J. Jones sold 774 shares of Snap-on stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $162.47, for a total value of $125,751.78. Following the completion of the transaction, the director now directly owns 2,984 shares in the company, valued at $484,810.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Thomas L. Kassouf sold 96,000 shares of Snap-on stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $160.40, for a total value of $15,398,400.00. The disclosure for this sale can be found here. Insiders sold 104,995 shares of company stock valued at $16,839,572 over the last quarter. Insiders own 4.00% of the company’s stock.

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Snap-on Company Profile

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

Earnings History and Estimates for Snap-on (NYSE:SNA)

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