Snap-on (NYSE:SNA) Releases Earnings Results, Beats Estimates By $0.01 EPS
Snap-on (NYSE:SNA) announced its earnings results on Thursday. The company reported $3.22 EPS for the quarter, topping the Zacks’ consensus estimate of $3.21 by $0.01, RTT News reports. The firm had revenue of $951.30 million during the quarter, compared to analysts’ expectations of $959.33 million. Snap-on had a return on equity of 21.40% and a net margin of 18.70%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.11 EPS.
SNA opened at $150.00 on Friday. The firm’s fifty day simple moving average is $161.15. Snap-on has a 52-week low of $135.29 and a 52-week high of $189.46. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.30. The stock has a market cap of $8.34 billion, a PE ratio of 12.70, a P/E/G ratio of 1.46 and a beta of 1.24.
In related news, Chairman Nicholas T. Pinchuk sold 19,403 shares of the business’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $164.60, for a total transaction of $3,193,733.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is owned by insiders.
A number of brokerages have recently commented on SNA. Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday. Robert W. Baird lifted their target price on Cerner from $67.00 to $71.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Bank of America cut Propetro from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Barrington Research lifted their target price on Lions Gate Entertainment to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Finally, Northcoast Research restated a “neutral” rating on shares of Snap-on in a report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Snap-on currently has an average rating of “Hold” and a consensus target price of $169.75.
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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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