Snap-on Incorporated (NYSE:SNA) – Equities research analysts at Northcoast Research cut their Q3 2020 earnings estimates for Snap-on in a note issued to investors on Thursday, September 17th. Northcoast Research analyst T. Hayes now anticipates that the company will post earnings of $2.11 per share for the quarter, down from their prior forecast of $2.13. Northcoast Research also issued estimates for Snap-on’s Q4 2020 earnings at $2.44 EPS, FY2020 earnings at $9.07 EPS and Q3 2021 earnings at $2.57 EPS.
Snap-on (NYSE:SNA) last announced its earnings results on Friday, July 31st. The company reported $1.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.94 by ($0.03). Snap-on had a net margin of 16.71% and a return on equity of 17.12%. The business had revenue of $724.30 million for the quarter, compared to the consensus estimate of $704.97 million. During the same period in the prior year, the business posted $3.22 EPS. Snap-on’s revenue for the quarter was down 23.9% on a year-over-year basis.
Shares of NYSE SNA opened at $140.92 on Monday. Snap-on has a fifty-two week low of $90.72 and a fifty-two week high of $172.61. The company has a 50 day simple moving average of $149.61 and a two-hundred day simple moving average of $133.55. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.60 and a beta of 1.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.40 and a current ratio of 3.34.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Wednesday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 35.24%.
In other Snap-on news, CEO Nicholas T. Pinchuk sold 27,566 shares of Snap-on stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $150.25, for a total value of $4,141,791.50. Insiders own 4.20% of the company’s stock.
Several institutional investors have recently modified their holdings of SNA. IFP Advisors Inc boosted its stake in shares of Snap-on by 85.6% during the 2nd quarter. IFP Advisors Inc now owns 232 shares of the company’s stock worth $31,000 after acquiring an additional 107 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new position in shares of Snap-on during the 2nd quarter worth $47,000. Ellevest Inc. boosted its stake in shares of Snap-on by 47.3% during the 2nd quarter. Ellevest Inc. now owns 439 shares of the company’s stock worth $61,000 after acquiring an additional 141 shares during the last quarter. CSat Investment Advisory L.P. boosted its stake in shares of Snap-on by 67.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 532 shares of the company’s stock worth $74,000 after acquiring an additional 214 shares during the last quarter. Finally, Islay Capital Management LLC purchased a new position in shares of Snap-on during the 2nd quarter worth $98,000. Institutional investors and hedge funds own 94.85% of the company’s stock.
Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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