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Snap-on Incorporated (SNA), headquartered in Kenosha, Wisconsin, is a manufacturer and marketer of high-end tools, equipment, and diagnostic products. With a market cap of $15.34 billion, Snap-on serves various industries, including automotive, aviation, and industrial sectors, providing innovative solutions for professional technicians and businesses. The company is scheduled to announce its Q3 earnings on Thursday, Oct. 17.
Ahead of the event, analysts expect SNA to report a profit of $4.58 per share, up 1.6% from $4.51 in the year-ago quarter. The company has beaten Wall Street's bottom-line estimates in three of the last four quarters while missing another occasion.
Its adjusted earnings of $4.91 per share for the last quarter missed the consensus estimate marginally. Lower-than-expected revenues primarily led to the earnings miss.
For fiscal 2024, analysts expect SNA to report EPS of $18.95, up 1% from $18.76 in fiscal 2023.
SNA stock gained marginally on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 19.7% gains and the Industrial Select Sector SPDR Fund's (XLI) 18.7% returns over the same time frame.
Shares of Snap-on plunged 1.9% following its Q2 earnings release on Jul. 18. The company reported revenue of $1.18 billion, which missed the consensus estimate of $1.20 billion.
The consensus opinion on SNA stock is cautious, with an overall “Hold” rating. Out of 11 analysts covering the stock, two advise a “Strong Buy” rating, one suggests a “Moderate Buy,” seven indicate a “Hold,” and one suggests a “Moderate Sell.” SNA's average analyst price target is $297.50, indicating a potential upside of 2.2% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
