Snap-on (NYSE:SNA) Releases Earnings Results, Misses Expectations By $0.30 EPS

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

Snap-on Trading Down 8.1 %

Shares of SNA stock opened at $305.16 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The firm has a fifty day moving average of $331.66 and a 200-day moving average of $337.68. Snap-on has a 52-week low of $252.98 and a 52-week high of $373.90. The stock has a market cap 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 declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.81%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock valued at $12,116,859 over the last quarter. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNA. Robert W. Baird lowered their price target on Snap-on from $358.00 to $349.00 and set a “neutral” rating on the stock in a research report on Tuesday. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research report on Thursday. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. StockNews.com lowered shares of Snap-on from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $355.67.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.