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.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SWK shares. Robert W. Baird cut their target price on shares of Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley lowered their target price on shares of Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating on the stock 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 note on Thursday, October 10th. Barclays upped their price target on Stanley Black & Decker from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of Stanley Black & Decker from $104.00 to $100.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. One 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. According to data from MarketBeat.com, Stanley Black & Decker has a consensus rating of “Hold” and a consensus target price of $102.29.

Stanley Black & Decker Price Performance

Shares of NYSE SWK opened at $85.42 on Thursday. The company’s fifty day moving average is $100.58 and its 200-day moving average is $93.77. Stanley Black & Decker has a twelve month low of $77.70 and a twelve month high of $110.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.29 and a quick ratio of 0.42.

Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.80 billion. During the same period last year, the firm posted $1.05 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts predict that Stanley Black & Decker will post 4.13 earnings per share for the current year.

Stanley Black & Decker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, November 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.84%. Stanley Black & Decker’s payout ratio is -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.