Snap-on's (SNA) Product Launch Drive Looks Promising
Zacks Investment Research | Aug 25, 2016 11:12PM ET
On Aug 26, we issued an updated research report on Kenosha, WI-based Snap-on Incorporated (NYSE:SNA) , which manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users. The company currently carries a Zacks Rank #3 (Hold).
Last month, Snap-on added another earnings beat to its long-standing winning streak, with its second-quarter 2016 earnings surpassing the Zacks Consensus Estimate by 6.3%. The bottom line also reflected a striking improvement of 16.3% compared with the year-ago tally. A steady top-line growth and lower operating expenses, both contributed to rise in profit.
The Zacks Consensus Estimate has moved north over the last 30 days on the back of this striking performance, indicating bullish analyst sentiment.
Snap-on’s successful earnings streak over the past several quarters mirrors its capabilities to suitably leverage market opportunities for augmenting growth. The company continues to make significant efforts toward improving its operating efficiency through Snap-on Value Creation Processes that are instrumental in boosting safety standards, quality and customer connection.
SNAP-ON INC Price, Consensus and EPS Surprise
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