What is Roth Capital’s Estimate for Snap-on FY2024 Earnings?

Snap-on Incorporated (NYSE:SNA) – Analysts at Roth Capital lifted their FY2024 earnings per share estimates for Snap-on in a research report issued to clients and investors on Tuesday, October 22nd. Roth Capital analyst S. Stember now expects that the company will earn $19.16 per share for the year, up from their prior estimate of $19.09. The consensus estimate for Snap-on’s current full-year earnings is $19.04 per share. Roth Capital also issued estimates for Snap-on’s Q4 2024 earnings at $4.80 EPS, Q3 2025 earnings at $5.13 EPS and FY2026 earnings at $22.14 EPS.

Several other research firms also recently weighed in on SNA. Robert W. Baird lifted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Tigress Financial lifted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday. Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday. Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Bank of America boosted their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $345.40.

Snap-on Price Performance

SNA opened at $326.62 on Thursday. The business has a fifty day moving average of $289.40 and a 200 day moving average of $277.91. The stock has a market cap of $17.15 billion, a P/E ratio of 16.81, a PEG ratio of 2.14 and a beta of 0.98. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. Snap-on has a 52-week low of $250.30 and a 52-week high of $330.51.

Snap-on declared that its board has initiated a share repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is 38.29%.

Insider Activity at Snap-on

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snap-on news, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the sale, the vice president now owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the transaction, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,598 shares of company stock valued at $10,461,986 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Snap-on

Institutional investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new position in shares of Snap-on in the second quarter worth about $30,000. Innealta Capital LLC purchased a new position in Snap-on during the 2nd quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV lifted its stake in Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 44 shares during the period. Quarry LP boosted its holdings in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Snap-on by 529.0% in the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after acquiring an additional 164 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

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.