FY2024 Earnings Estimate for Snap-on Incorporated (NYSE:SNA) Issued By Zacks Research

Snap-on Incorporated (NYSE:SNA) – Equities research analysts at Zacks Research decreased their FY2024 EPS estimates for shares of Snap-on in a research note issued on Thursday, August 8th. Zacks Research analyst R. Lohia now anticipates that the company will earn $18.86 per share for the year, down from their previous forecast of $19.05. The consensus estimate for Snap-on’s current full-year earnings is $18.95 per share. Zacks Research also issued estimates for Snap-on’s Q4 2024 earnings at $4.90 EPS, Q1 2025 earnings at $4.95 EPS, FY2025 earnings at $19.88 EPS, Q1 2026 earnings at $5.16 EPS and Q2 2026 earnings at $5.35 EPS.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $4.89 EPS.

Other equities research analysts have also recently issued reports about the stock. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Finally, Robert W. Baird decreased their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Snap-on presently has an average rating of “Moderate Buy” and an average target price of $315.00.

Snap-on Stock Up 1.8 %

Shares of Snap-on stock opened at $272.54 on Monday. Snap-on has a 52-week low of $249.84 and a 52-week high of $298.49. The company has a 50 day moving average of $268.71 and a 200 day moving average of $276.27. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $14.36 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.89 and a beta of 0.98.

Hedge Funds Weigh In On Snap-on

Several institutional investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC purchased a new position in shares of Snap-on in the 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new position in Snap-on in the 2nd quarter valued at $30,000. Innealta Capital LLC acquired a new position in Snap-on in the 2nd quarter valued at $32,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Snap-on during the 4th quarter worth $55,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Snap-on in the 1st quarter worth $56,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,777 shares of company stock worth $16,847,207. Corporate insiders own 4.10% of the company’s stock.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Monday, August 19th. Snap-on’s payout ratio is 39.03%.

Snap-on declared that its Board of Directors has initiated a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.