Q3 2017 EPS Estimates for Snap-On Incorporated (SNA) Lowered by Northcoast Research
Snap-On Incorporated (NYSE:SNA) – Equities research analysts at Northcoast Research cut their Q3 2017 earnings estimates for shares of Snap-On in a note issued to investors on Friday. Northcoast Research analyst T. Hayes now expects that the company will post earnings of $2.43 per share for the quarter, down from their previous forecast of $2.46. Northcoast Research also issued estimates for Snap-On’s Q3 2018 earnings at $2.64 EPS and FY2018 earnings at $10.91 EPS.
Several other equities research analysts have also weighed in on SNA. BidaskClub lowered shares of Snap-On from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Robert W. Baird reiterated an “outperform” rating and set a $197.00 price objective on shares of Snap-On in a research note on Wednesday, August 2nd. FBR & Co reiterated an “outperform” rating and set a $205.00 price objective on shares of Snap-On in a research note on Tuesday, July 11th. Jefferies Group LLC reiterated a “hold” rating and set a $175.00 price objective on shares of Snap-On in a research note on Wednesday, May 31st. Finally, Longbow Research lowered shares of Snap-On from a “buy” rating to a “neutral” rating in a research note on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $197.86.
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Shares of Snap-On (SNA) opened at 144.76 on Monday. The stock has a market cap of $8.34 billion, a P/E ratio of 14.99 and a beta of 1.05. The firm’s 50-day moving average price is $151.58 and its 200 day moving average price is $162.12. Snap-On has a 1-year low of $140.83 and a 1-year high of $181.73.
Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.05. The business had revenue of $921.40 million for the quarter, compared to the consensus estimate of $920.87 million. Snap-On had a return on equity of 20.90% and a net margin of 16.22%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.36 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 16th. Snap-On’s dividend payout ratio (DPR) is 29.34%.
Snap-On declared that its board has initiated a stock repurchase plan on Monday, August 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other Snap-On news, VP Iain Boyd sold 18,418 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Ann M. Gillis bought 265 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was purchased at an average price of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cadence Capital Management LLC boosted its position in Snap-On by 0.4% in the second quarter. Cadence Capital Management LLC now owns 1,891 shares of the company’s stock valued at $299,000 after buying an additional 8 shares during the period. Doyle Wealth Management boosted its position in Snap-On by 0.3% in the second quarter. Doyle Wealth Management now owns 3,996 shares of the company’s stock valued at $631,000 after buying an additional 13 shares during the period. Intrust Bank NA boosted its position in Snap-On by 0.8% in the first quarter. Intrust Bank NA now owns 3,062 shares of the company’s stock valued at $516,000 after buying an additional 23 shares during the period. Ameritas Investment Partners Inc. boosted its position in Snap-On by 1.7% in the second quarter. Ameritas Investment Partners Inc. now owns 1,411 shares of the company’s stock valued at $222,000 after buying an additional 23 shares during the period. Finally, Investment Management of Virginia LLC boosted its position in Snap-On by 0.4% in the first quarter. Investment Management of Virginia LLC now owns 8,450 shares of the company’s stock valued at $1,425,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 93.74% of the company’s stock.
Snap-On Company Profile
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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