Stanley Black & Decker (NYSE:SWK) Issues FY 2024 Earnings Guidance

Stanley Black & Decker (NYSE:SWK) updated its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.700-4.500 for the period, compared to the consensus EPS estimate of 3.980. The company issued revenue guidance of -.

Stanley Black & Decker Price Performance

Shares of NYSE SWK traded up $6.98 during trading on Tuesday, reaching $103.41. The company had a trading volume of 2,023,172 shares, compared to its average volume of 1,438,613. Stanley Black & Decker has a 52 week low of $76.26 and a 52 week high of $105.52. The business’s 50 day moving average price is $84.97 and its 200-day moving average price is $89.09. The stock has a market cap of $15.91 billion, a PE ratio of -151.06, a PEG ratio of 2.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.40 and a current ratio of 1.09.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Stanley Black & Decker had a negative net margin of 0.66% and a positive return on equity of 3.95%. Stanley Black & Decker’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.41) EPS. Analysts expect that Stanley Black & Decker will post 3.98 earnings per share for the current year.

Stanley Black & Decker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 3rd. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.81. This represents a $3.28 dividend on an annualized basis and a yield of 3.17%. Stanley Black & Decker’s dividend payout ratio is presently -469.56%.

Wall Street Analyst Weigh In

SWK has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price target on shares of Stanley Black & Decker from $92.00 to $85.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Barclays downgraded Stanley Black & Decker from an overweight rating to an equal weight rating and cut their price target for the company from $100.00 to $86.00 in a research note on Tuesday, June 4th. Finally, Robert W. Baird lifted their price objective on Stanley Black & Decker from $78.00 to $80.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $94.67.

Insider Transactions at Stanley Black & Decker

In related news, SVP Janet Link sold 3,442 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $86.80, for a total value of $298,765.60. Following the completion of the transaction, the senior vice president now directly owns 32,860 shares in the company, valued at approximately $2,852,248. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by 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.