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

Stanley Black & Decker (NYSE:SWK) released its quarterly earnings results on Tuesday. The industrial products company reported $1.22 EPS for the quarter, beating 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 business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the prior year, the company posted $1.05 earnings per share. Stanley Black & Decker’s revenue was down 5.1% compared to the same quarter last year. Stanley Black & Decker updated its FY 2024 guidance to 3.900-4.300 EPS.

Stanley Black & Decker Trading Up 0.4 %

SWK opened at $94.26 on Wednesday. The company’s 50 day moving average is $103.62 and its 200-day moving average is $93.75. Stanley Black & Decker has a 1-year low of $77.70 and a 1-year high of $110.88. The company has a current ratio of 1.27, a quick ratio of 0.42 and a debt-to-equity ratio of 0.64. The company has a market cap of $14.51 billion, a P/E ratio of -48.40, a PEG ratio of 2.71 and a beta of 1.24.

Stanley Black & Decker Dividend Announcement

The business also recently declared 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 3.48%. Stanley Black & Decker’s payout ratio is currently -169.07%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Stanley Black & Decker from $110.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Stanley Black & Decker from a “hold” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of Stanley Black & Decker from $80.00 to $88.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. The Goldman Sachs Group increased their price objective on shares of Stanley Black & Decker from $94.00 to $107.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Barclays increased their price objective on shares of Stanley Black & Decker from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $104.14.

Insider Activity

In related news, SVP Janet Link sold 13,520 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 31,960 shares in the company, valued at $3,320,963.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

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.