Stanley Black & Decker (NYSE:SWK) Posts Earnings Results, Beats Expectations By $0.17 EPS

Stanley Black & Decker (NYSE:SWK) issued its quarterly earnings data on Tuesday. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.05 by $0.17, Briefing.com reports. Stanley Black & Decker had a positive return on equity of 6.44% and a negative net margin of 1.33%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter last year, the business posted $1.05 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. Stanley Black & Decker updated its FY 2024 guidance to 3.900-4.300 EPS.

Stanley Black & Decker Trading Down 1.0 %

SWK opened at $92.94 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.42 and a debt-to-equity ratio of 0.63. The business’s 50-day simple moving average is $103.42 and its 200 day simple moving average is $93.75. Stanley Black & Decker has a 52-week low of $77.70 and a 52-week high of $110.88.

Stanley Black & Decker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, November 29th. Stanley Black & Decker’s payout ratio is -239.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com raised Stanley Black & Decker from a “hold” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company cut their price target on shares of Stanley Black & Decker from $104.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Robert W. Baird lowered their price objective on shares of Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley cut their price objective on shares of Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, UBS Group increased their target price on Stanley Black & Decker from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.29.

Stanley Black & Decker Company Profile

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.