Stanley Black & Decker (NYSE:SWK) Issues FY24 Earnings Guidance

Stanley Black & Decker (NYSE:SWK) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.90-4.30 for the period, compared to the consensus estimate of $4.15.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SWK shares. Robert W. Baird decreased their price objective on Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. UBS Group raised their price target on Stanley Black & Decker from $110.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their price target on Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley decreased their price target on Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Finally, 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 note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $102.29.

Stanley Black & Decker Stock Performance

SWK stock traded down $1.08 during trading hours on Wednesday, hitting $85.23. 727,961 shares of the stock were exchanged, compared to its average volume of 1,443,127. The company has a current ratio of 1.29, a quick ratio of 0.42 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $13.14 billion, a P/E ratio of -63.00, a P/E/G ratio of 2.30 and a beta of 1.25. Stanley Black & Decker has a 12 month low of $77.70 and a 12 month high of $110.88. The company has a 50-day simple moving average of $100.82 and a two-hundred day simple moving average of $93.83.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.17. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.80 billion. Stanley Black & Decker had a negative net margin of 1.33% and a positive return on equity of 6.44%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. On average, analysts forecast that Stanley Black & Decker will post 4.13 earnings per share for the current fiscal year.

Stanley Black & Decker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Friday, November 29th. Stanley Black & Decker’s dividend payout ratio (DPR) is presently -239.42%.

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.