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

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

Stanley Black & Decker Stock Performance

Shares of NYSE SWK traded up $0.45 during midday trading on Wednesday, reaching $94.34. 1,450,765 shares of the stock were exchanged, compared to its average volume of 1,404,826. The firm has a market cap of $14.52 billion, a price-to-earnings ratio of -48.97, a PEG ratio of 2.71 and a beta of 1.24. Stanley Black & Decker has a twelve month low of $77.70 and a twelve month high of $110.88. The firm has a 50-day simple moving average of $103.62 and a two-hundred day simple moving average of $93.75. The company has a quick ratio of 0.42, a current ratio of 1.27 and a debt-to-equity ratio of 0.64.

Stanley Black & Decker Announces Dividend

The company 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 dividend of $0.82 per share. The ex-dividend date of this dividend 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 -169.07%.

Analysts Set New Price Targets

Several analysts have commented on SWK shares. Barclays increased their price target on shares of Stanley Black & Decker from $96.00 to $100.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 2nd. UBS Group increased their price objective on shares of Stanley Black & Decker from $110.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Stanley Black & Decker from a "hold" rating to a "buy" rating in a research report on Monday. The Goldman Sachs Group increased their price objective on shares of Stanley Black & Decker from $94.00 to $107.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Finally, Robert W. Baird decreased 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. 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $102.29.

Insider Transactions at Stanley Black & Decker

In other 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 transaction of $1,404,863.20. Following the sale, the senior vice president now owns 31,960 shares of the company's stock, valued at $3,320,963.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.