Stanley Black & Decker (NYSE:SWK) Updates FY 2024 Earnings Guidance

Stanley Black & Decker (NYSE:SWK) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 3.700-4.500 for the period, compared to the consensus EPS estimate of 3.980. The company issued revenue guidance of -.

Stanley Black & Decker Price Performance

Shares of SWK traded up $6.98 during mid-day trading on Tuesday, reaching $103.41. The stock had a trading volume of 2,023,172 shares, compared to its average volume of 1,438,613. The business has a fifty day moving average of $84.97 and a 200 day moving average of $89.09. Stanley Black & Decker has a 12 month low of $76.26 and a 12 month high of $105.52. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of -151.06, a PEG ratio of 2.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.40 and a current ratio of 1.09.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.83 billion. Stanley Black & Decker had a positive return on equity of 3.95% and a negative net margin of 0.66%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.41) EPS. Equities analysts predict that Stanley Black & Decker will post 3.98 EPS for the current year.

Stanley Black & Decker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.82 per share. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.81. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Tuesday, September 3rd. Stanley Black & Decker’s dividend payout ratio is currently -469.56%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Stanley Black & Decker from $78.00 to $80.00 in a research note on Monday. Barclays lowered Stanley Black & Decker from an overweight rating to an equal weight rating and dropped their target price for the company from $100.00 to $86.00 in a research report on Tuesday, June 4th. Finally, Wells Fargo & Company reduced their price target on Stanley Black & Decker from $92.00 to $85.00 and set an equal weight rating on the stock in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $94.67.

Insider Activity

In other Stanley Black & Decker news, SVP Janet Link sold 3,442 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $86.80, for a total transaction of $298,765.60. Following the completion of the sale, the senior vice president now owns 32,860 shares in the company, valued at $2,852,248. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

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.