Stanley Black & Decker (NYSE:SWK) Issues Earnings Results

Stanley Black & Decker (NYSE:SWK) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.17, Briefing.com reports. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.80 billion. Stanley Black & Decker had a positive return on equity of 6.06% and a negative net margin of 1.87%. Stanley Black & Decker’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 earnings per share. Stanley Black & Decker updated its FY 2024 guidance to 3.900-4.300 EPS.

Stanley Black & Decker Price Performance

Shares of SWK stock traded up $0.92 during mid-day trading on Wednesday, hitting $94.81. 702,898 shares of the stock were exchanged, compared to its average volume of 1,400,203. The company has a quick ratio of 0.42, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The company has a market cap of $14.60 billion, a PE ratio of -48.50, a price-to-earnings-growth ratio of 2.71 and a beta of 1.24. Stanley Black & Decker has a 52-week low of $77.70 and a 52-week high of $110.88. The firm has a fifty day moving average of $103.62 and a 200 day moving average of $93.75.

Stanley Black & Decker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be paid a $0.82 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.46%. Stanley Black & Decker’s payout ratio is currently -169.07%.

Analyst Ratings Changes

SWK has been the topic of several recent analyst reports. Morgan Stanley assumed coverage on shares of Stanley Black & Decker in a research report on Friday, September 6th. They set an “equal weight” rating and a $107.00 target price on the stock. Wells Fargo & Company cut their price objective on shares of Stanley Black & Decker from $110.00 to $104.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. The Goldman Sachs Group boosted their price target on Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. StockNews.com upgraded shares of Stanley Black & Decker from a “hold” rating to a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their target price on Stanley Black & Decker from $80.00 to $88.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stanley Black & Decker currently has a consensus rating of “Hold” and an average price target of $104.14.

Insider Activity at Stanley Black & Decker

In other Stanley Black & Decker news, SVP Janet Link sold 13,520 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $103.91, for a total value of $1,404,863.20. Following the transaction, the senior vice president now directly owns 31,960 shares in the company, valued at $3,320,963.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

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.