Stanley Black & Decker (NYSE:SWK) Announces Quarterly Earnings Results

by · The Markets Daily

Stanley Black & Decker (NYSE:SWK – Get Free Report) issued its quarterly earnings data on Tuesday. The industrial products company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.17, Briefing.com reports. Stanley Black & Decker had a negative net margin of 1.87% and a positive return on equity of 6.06%. The business had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter last year, the company earned $1.05 EPS. The business’s revenue was down 5.1% on a year-over-year basis. Stanley Black & Decker updated its FY 2024 guidance to 3.900-4.300 EPS.

Stanley Black & Decker Price Performance

Shares of NYSE:SWK traded down $0.94 during midday trading on Thursday, hitting $92.94. The company’s stock had a trading volume of 2,113,862 shares, compared to its average volume of 1,413,203. The company has a market cap of $14.31 billion, a P/E ratio of -67.84, a price-to-earnings-growth ratio of 2.71 and a beta of 1.24. Stanley Black & Decker has a 12-month low of $77.70 and a 12-month high of $110.88. The business’s 50 day simple moving average is $103.52 and its 200 day simple moving average is $93.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.42 and a current ratio of 1.27.

Stanley Black & Decker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.28 annualized dividend and a yield of 3.53%. Stanley Black & Decker’s dividend payout ratio (DPR) is presently -239.42%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays lifted their price objective on shares of Stanley Black & Decker from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. UBS Group upped their price target on Stanley Black & Decker from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded Stanley Black & Decker from a “hold” rating to a “buy” rating in a research report on Monday. The Goldman Sachs Group increased their target price on Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird cut their price target on shares of Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $102.29.

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Stanley Black & Decker Company Profile

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Stanley Black & Decker, Inc provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia. Its Tools & Outdoor segment offers professional grade corded and cordless electric power tools and equipment, including drills, impact wrenches and drivers, grinders, saws, routers, and sanders; pneumatic tools and fasteners, such as nail guns, nails, staplers and staples, and concrete and masonry anchors; corded and cordless electric power tools; hand-held vacuums, paint tools, and cleaning appliances; leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels, and industrial and automotive tools; drill, screwdriver, router bits, abrasives, saw blades, and threading products; tool boxes, sawhorses, medical cabinets, and engineered storage solutions; and electric and gas-powered lawn and garden products.

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