Stanley Black & Decker (NYSE:SWK) Releases FY24 Earnings Guidance

Stanley Black & Decker (NYSE:SWK) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $3.90-4.30 for the period, compared to the consensus EPS estimate of $4.15.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley decreased their target price on Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their price target on Stanley Black & Decker from $104.00 to $100.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Stanley Black & Decker from $80.00 to $88.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Barclays lifted their price objective on Stanley Black & Decker from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their target price on Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $102.29.

Stanley Black & Decker Stock Performance

NYSE:SWK opened at $85.42 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.42 and a debt-to-equity ratio of 0.63. Stanley Black & Decker has a one year low of $77.70 and a one year high of $110.88. The business’s 50-day simple moving average is $100.58 and its 200 day simple moving average is $93.77.

Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.17. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. Stanley Black & Decker had a positive return on equity of 6.44% and a negative net margin of 1.33%. Stanley Black & Decker’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 earnings per share. Research analysts forecast that Stanley Black & Decker will post 4.13 earnings per share for the current year.

Stanley Black & Decker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Friday, November 29th. Stanley Black & Decker’s dividend payout ratio (DPR) is presently -239.42%.

About Stanley Black & Decker

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.