Stanley Black & Decker (NYSE:SWK) Announces Quarterly Earnings Results

Stanley Black & Decker (NYSE:SWK) issued its quarterly earnings results on Tuesday. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.17, Briefing.com reports. Stanley Black & Decker had a negative net margin of 1.87% and a positive return on equity of 6.06%. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same quarter last year, the business 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

NYSE SWK traded up $1.54 during trading hours on Wednesday, reaching $95.43. The stock had a trading volume of 601,541 shares, compared to its average volume of 1,399,587. The stock has a fifty day moving average of $103.62 and a 200 day moving average of $93.75. The stock has a market cap of $14.69 billion, a P/E ratio of -48.50, 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 quick ratio of 0.42 and a current ratio of 1.27. Stanley Black & Decker has a 52-week low of $77.70 and a 52-week high of $110.88.

Stanley Black & Decker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.82 per share. The ex-dividend date is Friday, November 29th. This represents a $3.28 dividend on an annualized basis and a yield of 3.44%. Stanley Black & Decker’s payout ratio is -169.07%.

Insider Activity

In other Stanley Black & Decker news, SVP Janet Link sold 13,520 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 31,960 shares of the company’s stock, valued at $3,320,963.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

SWK has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Stanley Black & Decker in a research note on Friday, September 6th. They issued an “equal weight” rating and a $107.00 target price on the stock. UBS Group lifted 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. StockNews.com raised shares of Stanley Black & Decker from a “hold” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company lowered their price objective on Stanley Black & Decker from $110.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $104.14.

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.