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

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SWK. JPMorgan Chase & Co. upped their target price on Stanley Black & Decker from $80.00 to $88.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. UBS Group increased their price objective on shares of Stanley Black & Decker from $110.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley reduced their target price on shares of Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their target price on shares of Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, StockNews.com downgraded shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $102.29.

Stanley Black & Decker Price Performance

Shares of Stanley Black & Decker stock traded down $1.08 on Wednesday, hitting $85.23. 727,961 shares of the company traded hands, compared to its average volume of 1,443,127. Stanley Black & Decker has a 12-month low of $77.70 and a 12-month high of $110.88. 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’s 50-day simple moving average is $100.82 and its 200 day simple moving average is $93.83. The company has a market cap 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 (NYSE:SWK) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.05 by $0.17. Stanley Black & Decker had a negative net margin of 1.33% and a positive return on equity of 6.44%. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Stanley Black & Decker’s quarterly revenue was down 5.1% on a year-over-year basis. Analysts expect that Stanley Black & Decker will post 4.13 earnings per share for the current fiscal year.

Stanley Black & Decker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be issued a $0.82 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.28 annualized dividend and a yield of 3.85%. 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.