Stanley Black & Decker (NYSE:SWK) Announces Earnings Results, Beats Expectations By $0.01 EPS

Stanley Black & Decker (NYSE:SWK) issued its earnings results on Thursday. The industrial products company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01, Briefing.com reports. Stanley Black & Decker had a negative net margin of 0.66% and a positive return on equity of 3.95%. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the firm posted ($0.41) EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Stanley Black & Decker updated its FY24 guidance to $3.50-4.50 EPS.

Stanley Black & Decker Stock Performance

SWK traded up $0.81 during trading on Friday, reaching $85.80. 3,145,797 shares of the company were exchanged, compared to its average volume of 1,691,942. Stanley Black & Decker has a 52 week low of $73.87 and a 52 week high of $104.21. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $91.64 and a 200 day moving average of $91.23. The stock has a market cap of $13.20 billion, a P/E ratio of -124.35, a PEG ratio of 2.29 and a beta of 1.33.

Stanley Black & Decker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, May 31st. Stanley Black & Decker’s dividend payout ratio (DPR) is -469.56%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SWK. JPMorgan Chase & Co. cut their target price on Stanley Black & Decker from $89.00 to $80.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 6th. Wells Fargo & Company decreased their price objective on shares of Stanley Black & Decker from $98.00 to $92.00 and set an “equal weight” rating for the company in a report on Friday. Robert W. Baird cut their target price on shares of Stanley Black & Decker from $82.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Finally, Barclays lowered their price objective on Stanley Black & Decker from $107.00 to $100.00 and set an “overweight” rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $97.00.

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.