Stanley Black & Decker (NYSE:SWK) Releases 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 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.17, Briefing.com reports. Stanley Black & Decker had a positive return on equity of 6.06% and a negative net margin of 1.87%. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Stanley Black & Decker’s quarterly 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 Stock Performance

Shares of SWK stock opened at $93.86 on Thursday. The company has a quick ratio of 0.42, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of -48.38, a PEG ratio of 2.71 and a beta of 1.24. The company’s 50 day moving average is $103.52 and its 200 day moving average is $93.75. Stanley Black & Decker has a 52-week low of $77.70 and a 52-week high of $110.88.

Stanley Black & Decker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a $0.82 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.28 annualized dividend and a dividend yield of 3.49%. Stanley Black & Decker’s payout ratio is presently -169.07%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SWK. The Goldman Sachs Group raised their target price on shares of Stanley Black & Decker from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. UBS Group increased their price target on Stanley Black & Decker from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on Stanley Black & Decker from $80.00 to $88.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Barclays lifted their target price on Stanley Black & Decker from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley reduced their price target on shares of Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $102.29.

About Stanley Black & Decker

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.