Snap-On Incorporated (NYSE:SNA) declared a quarterly dividend on Monday, November 6th, RTT News reports. Investors of record on Friday, November 17th will be paid a dividend of 0.82 per share on Friday, December 8th. This represents a $3.28 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, November 16th. This is a positive change from Snap-On’s previous quarterly dividend of $0.71.
Snap-On has raised its dividend payment by an average of 17.1% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Snap-On has a payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Snap-On to earn $10.93 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 26.0%.
Snap-On (SNA) opened at $155.87 on Friday. Snap-On has a 52-week low of $140.83 and a 52-week high of $181.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.22 and a current ratio of 1.75. The stock has a market cap of $8,939.30, a PE ratio of 15.82, a P/E/G ratio of 1.46 and a beta of 1.12.
Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. Snap-On had a net margin of 15.95% and a return on equity of 20.82%. The company had revenue of $903.80 million for the quarter, compared to analysts’ expectations of $889.22 million. During the same quarter in the previous year, the company earned $2.22 earnings per share. Snap-On’s quarterly revenue was up 8.4% on a year-over-year basis. research analysts forecast that Snap-On will post 10.09 EPS for the current fiscal year.
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Several brokerages recently issued reports on SNA. B. Riley reiterated a “buy” rating on shares of Snap-On in a research report on Wednesday, November 1st. Jefferies Group LLC reiterated a “hold” rating and set a $175.00 price target on shares of Snap-On in a research report on Friday, November 3rd. Robert W. Baird reiterated an “outperform” rating and set a $197.00 price target on shares of Snap-On in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of Snap-On from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Snap-On presently has an average rating of “Hold” and a consensus price target of $192.00.
Snap-On declared that its Board of Directors has initiated a stock repurchase plan on Monday, August 7th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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