Stanley Black & Decker (NYSE:SWK) Posts Earnings Results, Beats Expectations By $0.01 EPS

Stanley Black & Decker (NYSE:SWK) posted its earnings results on Thursday. The industrial products company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01, Briefing.com reports. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.83 billion. Stanley Black & Decker had a positive return on equity of 2.34% and a negative net margin of 1.97%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.41) earnings per share. Stanley Black & Decker updated its FY24 guidance to $3.50-4.50 EPS.

Stanley Black & Decker Trading Up 1.0 %

Shares of SWK stock traded up $0.81 during trading hours on Friday, hitting $85.80. 3,145,700 shares of the company were exchanged, compared to its average volume of 1,423,358. The company has a 50 day simple moving average of $91.64 and a two-hundred day simple moving average of $91.23. The firm has a market cap of $13.20 billion, a P/E ratio of -41.25, a P/E/G ratio of 2.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.39 and a current ratio of 1.19. Stanley Black & Decker has a fifty-two week low of $73.87 and a fifty-two week high of $104.21.

Stanley Black & Decker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Friday, May 31st. Stanley Black & Decker’s dividend payout ratio is -155.77%.

Wall Street Analysts Forecast Growth

SWK has been the subject of a number of research reports. Wells Fargo & Company dropped their target price on Stanley Black & Decker from $98.00 to $92.00 and set an “equal weight” rating for the company in a report on Friday. Robert W. Baird dropped their price target on shares of Stanley Black & Decker from $82.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. JPMorgan Chase & Co. reduced their price target on Stanley Black & Decker from $89.00 to $80.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 6th. Finally, Barclays dropped their price objective on Stanley Black & Decker from $107.00 to $100.00 and set an “overweight” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $97.00.

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.