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

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

Stanley Black & Decker Price Performance

SWK stock traded up $0.81 during mid-day trading on Friday, hitting $85.80. The company had a trading volume of 3,145,797 shares, compared to its average volume of 1,691,942. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of -124.35, a P/E/G ratio of 2.31 and a beta of 1.33. The company has a 50-day moving average price of $91.58 and a 200 day moving average price of $91.26. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.63. Stanley Black & Decker has a 12-month low of $73.87 and a 12-month high of $104.21.

Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.56 EPS for the quarter, beating 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 company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the company earned ($0.41) earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. On average, research analysts anticipate that Stanley Black & Decker will post 4.12 earnings per share for the current year.

Stanley Black & Decker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.24 annualized dividend and a yield of 3.78%. Stanley Black & Decker’s dividend payout ratio (DPR) is currently -469.56%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SWK. Robert W. Baird lowered 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 report on Thursday, April 18th. Barclays lowered their price target on Stanley Black & Decker from $107.00 to $100.00 and set an overweight rating for the company in a research report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Stanley Black & Decker from $89.00 to $80.00 and set an underweight rating on the stock in a research note on Tuesday, February 6th. Finally, Wells Fargo & Company cut their price target on shares of Stanley Black & Decker from $98.00 to $92.00 and set an equal weight rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus 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.