Analysts on Wall Street project that Snap-On (SNA) will announce quarterly earnings of $4.59 per share in its forthcoming report, representing a decline of 2.3% year over year. Revenues are projected to reach $1.15 billion, increasing 0.3% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Snap-On metrics that are commonly tracked and forecasted by Wall Street analysts.
The average prediction of analysts places 'Net Sales- Financial Services Revenue' at $101.14 million. The estimate indicates a change of +0.7% from the prior-year quarter.
Analysts forecast 'Net Sales- Repair Systems & Information Group' to reach $446.71 million. The estimate suggests a change of +5.7% year over year.
The consensus among analysts is that 'Net Sales- Snap-on Tools Group' will reach $492.00 million. The estimate points to a change of -1.7% from the year-ago quarter.
Analysts expect 'Net Sales- Commercial & Industrial Group' to come in at $355.43 million. The estimate suggests a change of -2.8% year over year.
The consensus estimate for 'Operating earnings / (losses)- Financial services' stands at $69.48 million. Compared to the current estimate, the company reported $71.70 million in the same quarter of the previous year.
Analysts' assessment points toward 'Operating earnings / (losses)- Commercial & Industrial Group' reaching $55.64 million. Compared to the current estimate, the company reported $61.00 million in the same quarter of the previous year.
According to the collective judgment of analysts, 'Operating earnings / (losses)- Snap-on Tools Group' should come in at $105.52 million. Compared to the current estimate, the company reported $108.30 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Operating earnings / (losses)- Repair Systems & Information Group' should arrive at $110.49 million. Compared to the current estimate, the company reported $107.30 million in the same quarter of the previous year.
View all Key Company Metrics for Snap-On here>>>Shares of Snap-On have demonstrated returns of -1.9% over the past month compared to the Zacks S&P 500 composite's +0.4% change. With a Zacks Rank #3 (Hold), SNA is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
