Stanley Black & Decker (NYSE:SWK) Posts Earnings Results, Beats Expectations By $0.01 EPS

Stanley Black & Decker (NYSE:SWK - Get Free Report) posted its earnings results on Thursday. The industrial products company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01, Briefing.com reports. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.83 billion. Stanley Black & Decker had a positive return on equity of 2.34% and a negative net margin of 1.97%. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.41) earnings per share. Stanley Black & Decker updated its FY24 guidance to $3.50-4.50 EPS.

Stanley Black & Decker Trading Up 1.0 %

Shares of SWK stock traded up $0.81 during trading hours on Friday, hitting $85.80. 3,145,700 shares of the company were exchanged, compared to its average volume of 1,423,358. The company has a 50 day simple moving average of $91.64 and a two-hundred day simple moving average of $91.23. The firm has a market cap of $13.20 billion, a P/E ratio of -41.25, a P/E/G ratio of 2.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.39 and a current ratio of 1.19. Stanley Black & Decker has a fifty-two week low of $73.87 and a fifty-two week high of $104.21.

Stanley Black & Decker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Friday, May 31st. Stanley Black & Decker's dividend payout ratio is -155.77%.

Wall Street Analysts Forecast Growth

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.