Snap-on (NYSE:SNA) Announces Earnings Results

Snap-on (NYSE:SNA) released its quarterly earnings data on Thursday. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30), RTT News reports. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the company earned $4.91 earnings per share.

Snap-on Trading Down 8.1 %

Shares of Snap-on stock traded down $26.84 during trading on Thursday, reaching $305.16. 1,849,996 shares of the company were exchanged, compared to its average volume of 358,165. Snap-on has a twelve month low of $252.98 and a twelve month high of $373.90. The business has a 50-day moving average price of $332.99 and a 200-day moving average price of $337.45. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 2.21 and a beta of 0.84.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is presently 43.90%.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,011 shares of company stock worth $12,116,859. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Tigress Financial increased their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Thursday. Robert W. Baird decreased their price objective on shares of Snap-on from $358.00 to $349.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Snap-on currently has a consensus rating of “Moderate Buy” and an average target price of $355.67.

About Snap-on

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.