Snap-on 3Q Revenue Growth Slows but Shows Healthy Margin Expansion: FVE Raised to $114
Narrow-moat-rated Snap-on reported solid third-quarter earnings per diluted share of $2.22, $0.07 ahead of the consensus EPS but a whopping $0.24 better than the year-ago quarter. We think Snap-on's narrow moat, derived from its ability to consistently innovate new product and its status in the market as the premium brand to own, enables the company to deliver solid profitability and returns. Owing to the time value of money component in our DCF model, we have raised our fair value estimate to $...Snap-on is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. Products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. The company also provides financing programs designed to facilitate the sales of its products and support its franchise business.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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