Stanley Black & Decker (NYSE:SWK) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Stanley Black & Decker (NYSE:SWK) released its earnings results on Thursday. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01, Briefing.com reports. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Stanley Black & Decker had a negative net margin of 0.66% and a positive return on equity of 3.95%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned ($0.41) earnings per share. Stanley Black & Decker updated its FY24 guidance to $3.50-4.50 EPS.

Stanley Black & Decker Stock Up 1.0 %

Shares of SWK stock opened at $85.80 on Friday. The firm has a fifty day moving average of $91.58 and a two-hundred day moving average of $91.26. Stanley Black & Decker has a 1-year low of $73.87 and a 1-year high of $104.21. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.09 and a quick ratio of 0.39.

Stanley Black & Decker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $0.81 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.78%. Stanley Black & Decker’s dividend payout ratio (DPR) is presently -469.56%.

Analyst Upgrades and Downgrades

SWK has been the topic of several research reports. Wells Fargo & Company cut their target price on Stanley Black & Decker from $98.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Friday. Barclays reduced their price objective on Stanley Black & Decker from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday. Robert W. Baird cut their price target on shares of Stanley Black & Decker from $82.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Stanley Black & Decker from $89.00 to $80.00 and set an “underweight” rating for the company in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $97.00.

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.