Snap-on (SNA) to Release Earnings on Thursday

Posted by Defense World Staff on Apr 13th, 2023

Snap-on (NYSE:SNA – Get Rating) will be announcing its earnings results before the market opens on Thursday, April 20th. Analysts expect the company to announce earnings of $4.14 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Snap-on (NYSE:SNA – Get Rating) last issued its earnings results on Thursday, February 2nd. The company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.09 by $0.33. Snap-on had a net margin of 20.29% and a return on equity of 20.83%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $4.10 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, analysts expect Snap-on to post $17 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Snap-on Stock Up 0.9 %

Shares of NYSE SNA opened at $237.93 on Thursday. The company’s 50-day simple moving average is $244.00 and its 200-day simple moving average is $234.09. Snap-on has a 52-week low of $190.08 and a 52-week high of $259.78. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.92 and a beta of 1.09. The company has a quick ratio of 2.40, a current ratio of 3.47 and a debt-to-equity ratio of 0.26.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 23rd were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Wednesday, February 22nd. Snap-on’s dividend payout ratio (DPR) is 38.50%.

Insiders Place Their Bets

In other Snap-on news, VP Iain Boyd sold 2,736 shares of Snap-on stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $259.01, for a total value of $708,651.36. Following the sale, the vice president now owns 6,249 shares of the company’s stock, valued at $1,618,553.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 22,800 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $236.05, for a total value of $5,381,940.00. Following the sale, the chief executive officer now directly owns 676,929 shares of the company’s stock, valued at approximately $159,789,090.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Iain Boyd sold 2,736 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $259.01, for a total transaction of $708,651.36. Following the completion of the transaction, the vice president now owns 6,249 shares in the company, valued at approximately $1,618,553.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,744 shares of company stock worth $10,207,319. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Snap-on

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC grew its holdings in Snap-on by 22.4% in the 1st quarter. MetLife Investment Management LLC now owns 14,527 shares of the company’s stock valued at $2,985,000 after buying an additional 2,657 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Snap-on by 6.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,150 shares of the company’s stock worth $1,469,000 after purchasing an additional 407 shares in the last quarter. Sei Investments Co. lifted its position in shares of Snap-on by 11.3% in the first quarter. Sei Investments Co. now owns 125,365 shares of the company’s stock valued at $25,727,000 after acquiring an additional 12,720 shares in the last quarter. Aviva PLC increased its stake in Snap-on by 12.3% in the first quarter. Aviva PLC now owns 33,102 shares of the company’s stock valued at $6,802,000 after purchasing an additional 3,636 shares during the last quarter. Finally, Prudential PLC acquired a new stake in Snap-on during the first quarter worth about $302,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Tigress Financial restated a “buy” rating and issued a $302.00 price target (up previously from $298.00) on shares of Snap-on in a research report on Thursday, March 2nd. Robert W. Baird raised their target price on shares of Snap-on from $253.00 to $265.00 in a research note on Friday, February 3rd. MKM Partners lifted their price target on shares of Snap-on from $238.00 to $259.00 in a research note on Friday, February 3rd. StockNews.com started coverage on shares of Snap-on in a research note on Thursday, March 16th. They set a “buy” rating for the company. Finally, Roth Capital restated a “neutral” rating on shares of Snap-on in a report on Thursday, February 2nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $250.25.

Snap-on Company Profile

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Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.

Earnings History for Snap-on (NYSE:SNA)

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