Snap-on Incorporated Forecasted to Post Q1 2019 Earnings of $2.95 Per Share (SNA)

Snap-on Incorporated (NYSE:SNA) – Stock analysts at Barrington Research reduced their Q1 2019 earnings per share (EPS) estimates for shares of Snap-on in a report issued on Monday, February 11th. Barrington Research analyst G. Prestopino now forecasts that the company will post earnings per share of $2.95 for the quarter, down from their prior forecast of $3.05. Barrington Research also issued estimates for Snap-on’s Q2 2019 earnings at $3.25 EPS, Q3 2019 earnings at $3.06 EPS, FY2019 earnings at $12.58 EPS, Q1 2020 earnings at $3.20 EPS, Q2 2020 earnings at $3.54 EPS, Q3 2020 earnings at $3.26 EPS and FY2020 earnings at $13.53 EPS.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.03. The business had revenue of $952.50 million during the quarter, compared to analyst estimates of $968.74 million. Snap-on had a net margin of 18.18% and a return on equity of 21.62%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.69 earnings per share.

Other equities analysts have also issued research reports about the stock. TheStreet raised shares of Snap-on from a “c+” rating to a “b-” rating in a research report on Friday, January 11th. Bank of America started coverage on shares of Snap-on in a research report on Friday, December 21st. They set a “buy” rating and a $165.00 price target for the company. Zacks Investment Research raised shares of Snap-on from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Robert W. Baird dropped their price target on shares of Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $190.33.

NYSE:SNA opened at $155.28 on Wednesday. Snap-on has a 1-year low of $135.29 and a 1-year high of $189.46. The company has a quick ratio of 1.62, a current ratio of 2.33 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $8.52 billion, a PE ratio of 13.15, a PEG ratio of 1.21 and a beta of 1.34.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new stake in Snap-on during the fourth quarter worth approximately $33,000. Tributary Capital Management LLC purchased a new stake in Snap-on during the fourth quarter worth approximately $44,000. Private Capital Group LLC grew its stake in Snap-on by 98.6% during the fourth quarter. Private Capital Group LLC now owns 437 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the period. Atlas Capital Advisors LLC grew its stake in Snap-on by 1,158.3% during the fourth quarter. Atlas Capital Advisors LLC now owns 453 shares of the company’s stock worth $66,000 after buying an additional 417 shares during the period. Finally, First Mercantile Trust Co. grew its stake in Snap-on by 39.2% during the fourth quarter. First Mercantile Trust Co. now owns 501 shares of the company’s stock worth $73,000 after buying an additional 141 shares during the period.

In other Snap-on news, Chairman Nicholas T. Pinchuk sold 22,433 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $140.80, for a total transaction of $3,158,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is owned by insiders.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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Earnings History and Estimates for Snap-on (NYSE:SNA)

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