Brokerages expect that Snap-On Incorporated (NYSE:SNA) will report sales of $889.28 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Snap-On’s earnings, with the lowest sales estimate coming in at $867.00 million and the highest estimate coming in at $910.50 million. Snap-On posted sales of $834.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.6%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 19th.

According to Zacks, analysts expect that Snap-On will report full year sales of $889.28 million for the current year, with estimates ranging from $3.57 billion to $3.66 billion. For the next year, analysts anticipate that the firm will post sales of $3.78 billion per share, with estimates ranging from $3.62 billion to $3.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Snap-On.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.05. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The firm had revenue of $921.40 million for the quarter, compared to the consensus estimate of $920.87 million. During the same quarter in the previous year, the firm posted $2.36 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis.

Several analysts recently commented on the company. Zacks Investment Research downgraded Snap-On from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. BidaskClub cut Snap-On from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Longbow Research cut Snap-On from a “buy” rating to a “neutral” rating in a research note on Monday, August 21st. Robert W. Baird restated an “outperform” rating and issued a $197.00 price target on shares of Snap-On in a report on Wednesday, August 2nd. Finally, FBR & Co set a $205.00 price target on Snap-On and gave the stock a “buy” rating in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $197.86.

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In related news, Director Ruth Ann M. Gillis acquired 265 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $152.58 per share, for a total transaction of $40,433.70. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, VP Iain Boyd sold 18,418 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $147.54, for a total value of $2,717,391.72. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in SNA. Vanguard Group Inc. increased its holdings in Snap-On by 2.8% during the second quarter. Vanguard Group Inc. now owns 5,634,205 shares of the company’s stock worth $890,204,000 after buying an additional 151,800 shares during the last quarter. BlackRock Inc. raised its position in Snap-On by 0.8% during the second quarter. BlackRock Inc. now owns 3,665,849 shares of the company’s stock worth $579,203,000 after acquiring an additional 27,641 shares in the last quarter. State Street Corp raised its position in Snap-On by 4.3% during the first quarter. State Street Corp now owns 2,505,691 shares of the company’s stock worth $422,636,000 after acquiring an additional 102,268 shares in the last quarter. FMR LLC raised its position in Snap-On by 0.3% during the first quarter. FMR LLC now owns 1,140,188 shares of the company’s stock worth $192,316,000 after acquiring an additional 3,670 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in Snap-On by 59.2% during the second quarter. Schroder Investment Management Group now owns 1,136,354 shares of the company’s stock worth $177,850,000 after acquiring an additional 422,366 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

Shares of Snap-On (NYSE:SNA) traded up 1.10% during trading on Thursday, reaching $149.01. 496,031 shares of the company’s stock were exchanged. Snap-On has a 52-week low of $140.83 and a 52-week high of $181.73. The company has a 50 day moving average of $148.41 and a 200 day moving average of $159.16. The firm has a market capitalization of $8.58 billion, a P/E ratio of 15.43 and a beta of 1.05.

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, August 16th. Snap-On’s payout ratio is 29.34%.

Snap-On declared that its Board of Directors has authorized a stock repurchase program on Monday, August 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

About Snap-On

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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

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