Snap-on (NYSE:SNA) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Snap-on (NYSE:SNA) issued its quarterly earnings data on Thursday. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04, RTT News reports. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. During the same period last year, the company posted $4.75 EPS.

Snap-on Price Performance

Shares of NYSE:SNA traded down $16.63 during trading on Thursday, hitting $339.47. 697,834 shares of the company’s stock were exchanged, compared to its average volume of 401,922. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on has a 52-week low of $252.98 and a 52-week high of $373.89. The business’s 50-day simple moving average is $349.05 and its 200 day simple moving average is $318.38. The company has a market cap of $17.83 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 2.23 and a beta of 0.99.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $2.14 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.52%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Analyst Ratings Changes

Several research firms recently weighed in on SNA. Roth Mkm lifted their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Tigress Financial lifted their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barrington Research reiterated an “outperform” rating and set a $360.00 price objective on shares of Snap-on in a research note on Monday. Finally, Bank of America lifted their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on currently has an average rating of “Hold” and a consensus price target of $347.40.

Insider Buying and Selling

In other news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,192 shares of company stock worth $11,400,978. 4.10% of the stock is owned by corporate insiders.

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.