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

Stanley Black & Decker (NYSE:SWK) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.50-4.50 for the period, compared to the consensus estimate of $4.14.

Wall Street Analyst Weigh In

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

Stanley Black & Decker Price Performance

Shares of SWK traded up $0.81 during mid-day trading on Friday, reaching $85.80. 3,145,797 shares of the stock traded hands, compared to its average volume of 1,691,942. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.63. Stanley Black & Decker has a 1 year low of $73.87 and a 1 year high of $104.21. The company has a market cap of $13.20 billion, a price-to-earnings ratio of -124.35, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33. The firm has a fifty day moving average price of $91.58 and a 200 day moving average price of $91.26.

Stanley Black & Decker (NYSE:SWK) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Stanley Black & Decker had a positive return on equity of 3.95% and a negative net margin of 0.66%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the company earned ($0.41) EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that Stanley Black & Decker will post 4.12 earnings per share for the current year.

Stanley Black & Decker Announces Dividend

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

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.