Snap-on, Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Snap-on, Inc. (NYSE:SNA) will unveil its latest earnings on Thursday, October 20, 2011. Snap-on is a global innovator, manufacturer and marketer of tools, diagnostics, equipment, software and service solutions.

Snap-on, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.01 per share, a rise of 26.2% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 37.1% versus last year to $4.29.

Past Earnings Performance: Last quarter, the company beat estimates by 8 cents, coming in at profit of $1.14 a share versus the estimate of net income of $1.06 a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 10.2% in revenue from the year-earlier quarter to $720 million.

Analyst Ratings: The limited number of analysts covering the stock seem bullish with three analysts rating it as a buy, none rating it as a sell and none rating it as a hold.

A Look Back: In the second quarter, profit rose 72.2% to $78 million ($1.33 a share) from $45.3 million (78 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 14.4% to $757 million from $661.5 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 14.4%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 15% from the year earlier quarter.

The company has seen net income rise in three straight quarters. Net income rose 52.7% in the first quarter and 58.2% in the fourth quarter of the last fiscal year.

Competitors to Watch: The L.S. Starrett Company (NYSE:SCX), Stanley Black & Decker, Inc. (NYSE:SWK), The Home Depot, Inc. (NYSE:HD), Lowe’s (NYSE:LOW) and P & F Industries, Inc. (NASDAQ:PFIN).

Stock Price Performance: During July 21, 2011 to October 14, 2011, the stock price had fallen $12.21 (-19.9%) from $61.51 to $49.30. The stock price saw one of its best stretches over the last year between June 15, 2011 and June 23, 2011 when shares rose for seven-straight days, rising 7.4% (+$4.15) over that span. It saw one of its worst periods between July 20, 2011 and August 2, 2011 when shares fell for 10-straight days, falling 12.6% (-$7.83) over that span. Shares are down $6.32 (-11.4%) year to date.

(Source: Xignite Financials)

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