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

Stanley Black & Decker (NYSE:SWK - Get Free Report) announced its quarterly earnings data 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 positive return on equity of 6.06% and a negative net margin of 1.87%. The company's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last 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

NYSE SWK traded down $0.03 during trading hours on Wednesday, hitting $93.86. The company's stock had a trading volume of 2,508,516 shares, compared to its average volume of 1,409,861. Stanley Black & Decker has a 12 month low of $77.70 and a 12 month high of $110.88. The company's 50 day simple moving average is $103.52 and its two-hundred day simple moving average is $93.75. The company has a market cap of $14.45 billion, a P/E ratio of -48.38, a price-to-earnings-growth ratio of 2.71 and a beta of 1.24. 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a $0.82 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.28 annualized dividend and a yield of 3.49%. Stanley Black & Decker's payout ratio is -169.07%.

Insider Buying and Selling

In related news, SVP Janet Link sold 13,520 shares of Stanley Black & Decker stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 31,960 shares in the company, valued at approximately $3,320,963.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on SWK. UBS Group raised their price objective on Stanley Black & Decker from $110.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Robert W. Baird lowered their price objective on 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 raised their price objective on Stanley Black & Decker from $94.00 to $107.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on Stanley Black & Decker from $80.00 to $88.00 and gave the stock an "underweight" rating in a research report on Monday, August 5th. Finally, StockNews.com raised Stanley Black & Decker from a "hold" rating to a "buy" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $102.29.

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.