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

Stanley Black & Decker (NYSE:SWK) posted its quarterly earnings results 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 negative net margin of 1.87% and a positive return on equity of 6.06%. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the previous year, the business posted $1.05 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. Stanley Black & Decker updated its FY 2024 guidance to 3.900-4.300 EPS.

Stanley Black & Decker Stock Performance

Shares of SWK traded up $1.54 on Wednesday, reaching $95.43. 601,541 shares of the stock traded hands, compared to its average volume of 1,399,587. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of -48.50, a P/E/G ratio of 2.71 and a beta of 1.24. Stanley Black & Decker has a 12 month low of $77.70 and a 12 month high of $110.88. The stock’s 50-day moving average price is $103.62 and its 200-day moving average price is $93.75. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 0.42.

Stanley Black & Decker Dividend Announcement

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 paid a $0.82 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.28 annualized dividend and a dividend yield of 3.44%. Stanley Black & Decker’s payout ratio is -169.07%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SWK. Morgan Stanley assumed coverage on shares of Stanley Black & Decker in a research report on Friday, September 6th. They issued an “equal weight” rating and a $107.00 target price on the stock. Barclays boosted their target price on Stanley Black & Decker from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Robert W. Baird reduced 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. The Goldman Sachs Group boosted their target price on shares of Stanley Black & Decker from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lowered their price target on Stanley Black & Decker from $110.00 to $104.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stanley Black & Decker has a consensus rating of “Hold” and a consensus price target of $104.14.

Insider Buying and Selling

In other news, SVP Janet Link sold 13,520 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was 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 of the company’s stock, valued at $3,320,963.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

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.