Snap-On Incorporated (SNA) to Distribute Quarterly Dividend of $2.44 on September 10th

Snap-On Incorporated (NYSE:SNA) announced a quarterly dividend on Thursday, August 6th. Investors of record on Wednesday, August 19th will be paid a dividend of 2.44 per share on Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, August 19th.

Snap-On has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Snap-On has a payout ratio of 48.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Snap-On to earn $21.13 per share next year, which means the company should continue to be able to cover its $9.76 annual dividend with an expected future payout ratio of 46.2%.

Snap-On Stock Performance

NYSE SNA opened at $416.09 on Friday. Snap-On has a 52-week low of $319.20 and a 52-week high of $423.02. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $398.90 and its 200 day moving average price is $382.23. The firm has a market cap of $21.52 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.92 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. Snap-On’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $4.72 EPS. On average, equities research analysts expect that Snap-On will post 19.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Roth Capital reissued a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Tigress Financial boosted their target price on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Robert W. Baird set a $415.00 price target on shares of Snap-On in a research note on Friday, July 24th. Finally, Barclays started coverage on shares of Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $426.20.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.