Snap-on (SNA) Set to Announce Quarterly Earnings on Thursday

Posted by Defense World Staff on Jul 13th, 2023

Snap-on (NYSE:SNA – Get Free Report) is scheduled to be announcing its earnings results before the market opens on Thursday, July 20th. Analysts expect the company to announce earnings of $4.47 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Snap-on (NYSE:SNA – Get Free Report) last posted its quarterly earnings data on Thursday, April 20th. The company reported $4.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.14 by $0.46. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.13 billion. Snap-on had a net margin of 20.60% and a return on equity of 21.17%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.00 EPS. On average, analysts expect Snap-on to post $18 EPS for the current fiscal year and $19 EPS for the next fiscal year.

Snap-on Price Performance

SNA opened at $292.85 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.48 and a quick ratio of 2.43. The company has a market capitalization of $15.50 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 2.03 and a beta of 1.12. The firm’s fifty day moving average price is $268.52 and its two-hundred day moving average price is $252.53. Snap-on has a 1 year low of $192.25 and a 1 year high of $294.33.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 19th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Thursday, May 18th. Snap-on’s dividend payout ratio is 37.18%.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of analyst reports. Longbow Research raised shares of Snap-on from an “underperform” rating to a “neutral” rating in a report on Friday, April 21st. 888 reissued a “reiterates” rating on shares of Snap-on in a report on Wednesday, May 24th. Roth Capital raised shares of Snap-on from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. Bank of America upped their price objective on shares of Snap-on from $230.00 to $240.00 and gave the company an “underperform” rating in a report on Friday, April 21st. Finally, Tigress Financial upped their price target on Snap-on from $302.00 to $328.00 in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $264.29.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $263.05, for a total value of $78,915.00. Following the transaction, the vice president now directly owns 2,042 shares in the company, valued at $537,148.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snap-on news, SVP Jesus Arregui sold 1,988 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $256.64, for a total transaction of $510,200.32. Following the transaction, the senior vice president now directly owns 3,986 shares in the company, valued at $1,022,967.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 300 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $263.05, for a total transaction of $78,915.00. Following the transaction, the vice president now owns 2,042 shares in the company, valued at $537,148.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,282 shares of company stock worth $23,784,577. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SNA. MetLife Investment Management LLC grew its holdings in shares of Snap-on by 22.4% in the first quarter. MetLife Investment Management LLC now owns 14,527 shares of the company’s stock worth $2,985,000 after purchasing an additional 2,657 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Snap-on by 6.0% in 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 during the last quarter. Sei Investments Co. grew its holdings 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 worth $25,727,000 after purchasing an additional 12,720 shares during the last quarter. Aviva PLC grew its holdings in shares of Snap-on by 12.3% in the first quarter. Aviva PLC now owns 33,102 shares of the company’s stock worth $6,802,000 after purchasing an additional 3,636 shares during the last quarter. Finally, Prudential PLC bought a new stake in Snap-on in the first quarter valued at $302,000. 92.45% of the stock is currently owned by institutional investors.

About Snap-on

(Get Free Report)

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.