Equities Analysts Issue Forecasts for Snap-on Incorporated’s Q2 2024 Earnings (NYSE:SNA)

Snap-on Incorporated (NYSE:SNA) – Roth Capital cut their Q2 2024 earnings per share (EPS) estimates for Snap-on in a research note issued to investors on Friday, April 19th. Roth Capital analyst S. Stember now expects that the company will earn $4.86 per share for the quarter, down from their prior estimate of $5.00. The consensus estimate for Snap-on’s current full-year earnings is $19.24 per share. Roth Capital also issued estimates for Snap-on’s Q1 2025 earnings at $5.13 EPS, Q2 2025 earnings at $5.42 EPS and FY2025 earnings at $20.79 EPS.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company earned $4.60 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year.

Several other research analysts also recently commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research note on Monday, April 15th. Roth Mkm reiterated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday. Robert W. Baird cut their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Tigress Financial reiterated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Snap-on has an average rating of “Moderate Buy” and a consensus target price of $316.75.

Snap-on Stock Up 2.7 %

NYSE SNA opened at $268.80 on Monday. The stock’s 50-day moving average price is $283.78 and its 200-day moving average price is $278.60. The company has a quick ratio of 2.81, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. Snap-on has a 52 week low of $245.73 and a 52 week high of $298.49. The company has a market capitalization of $14.20 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.92 and a beta of 0.99.

Institutional Investors Weigh In On Snap-on

Several institutional investors have recently modified their holdings of the stock. Checchi Capital Advisers LLC lifted its stake in shares of Snap-on by 2.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,830 shares of the company’s stock valued at $529,000 after purchasing an additional 36 shares during the last quarter. Avantax Planning Partners Inc. lifted its stake in shares of Snap-on by 3.5% during the 3rd quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock worth $288,000 after acquiring an additional 38 shares during the last quarter. Phoenix Wealth Advisors lifted its stake in shares of Snap-on by 3.1% during the 3rd quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock worth $334,000 after acquiring an additional 39 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Snap-on by 17.2% during the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock worth $79,000 after acquiring an additional 40 shares during the last quarter. Finally, Czech National Bank lifted its stake in shares of Snap-on by 0.4% during the 1st quarter. Czech National Bank now owns 9,286 shares of the company’s stock worth $2,751,000 after acquiring an additional 41 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Insiders sold 47,368 shares of company stock worth $13,399,449 in the last quarter. 4.10% of the stock is owned by corporate insiders.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.77%. The ex-dividend date was Friday, February 23rd. Snap-on’s dividend payout ratio is presently 39.03%.

About Snap-on

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.