Stanley Black & Decker (NYSE:SWK) Posts Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Stanley Black & Decker (NYSE:SWK) posted its quarterly earnings data on Friday. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.22, MarketWatch Earnings reports. Stanley Black & Decker had a negative net margin of 0.35% and a positive return on equity of 0.70%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The firm’s revenue was down 4.0% compared to the same quarter last year. Stanley Black & Decker updated its FY 2023 guidance to $1.10-$1.40 EPS and its FY23 guidance to $1.10-1.40 EPS.

Stanley Black & Decker Stock Up 6.2 %

NYSE SWK opened at $82.03 on Monday. The company has a fifty day moving average of $85.35 and a two-hundred day moving average of $87.21. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of -210.33, a PEG ratio of 6.66 and a beta of 1.38. The company has a quick ratio of 0.42, a current ratio of 1.30 and a debt-to-equity ratio of 0.65. Stanley Black & Decker has a 52 week low of $70.70 and a 52 week high of $104.21.

Stanley Black & Decker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Thursday, November 30th. Stanley Black & Decker’s payout ratio is -830.75%.

Insider Buying and Selling at Stanley Black & Decker

In other Stanley Black & Decker news, SVP Janet Link sold 3,081 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $98.76, for a total value of $304,279.56. Following the completion of the sale, the senior vice president now directly owns 32,690 shares of the company’s stock, valued at approximately $3,228,464.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Stanley Black & Decker

Large investors have recently modified their holdings of the business. Panagora Asset Management Inc. lifted its position in shares of Stanley Black & Decker by 3.5% during the first quarter. Panagora Asset Management Inc. now owns 2,838 shares of the industrial products company’s stock valued at $397,000 after buying an additional 96 shares during the last quarter. Kinneret Advisory LLC grew its position in Stanley Black & Decker by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 4,361 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 98 shares during the period. Geneos Wealth Management Inc. raised its position in Stanley Black & Decker by 15.4% during the first quarter. Geneos Wealth Management Inc. now owns 765 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 102 shares in the last quarter. Cetera Investment Advisers increased its holdings in Stanley Black & Decker by 4.5% in the first quarter. Cetera Investment Advisers now owns 2,614 shares of the industrial products company’s stock valued at $365,000 after buying an additional 112 shares in the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in Stanley Black & Decker by 4.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 3,595 shares of the industrial products company’s stock worth $503,000 after purchasing an additional 138 shares during the period. Institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SWK shares. Mizuho boosted their price target on Stanley Black & Decker from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. StockNews.com lowered shares of Stanley Black & Decker from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Wolfe Research downgraded shares of Stanley Black & Decker from a “peer perform” rating to an “underperform” rating and set a $94.00 price target on the stock. in a report on Friday, August 11th. Robert W. Baird raised their price objective on shares of Stanley Black & Decker from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Finally, UBS Group boosted their price objective on Stanley Black & Decker from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.30.

About Stanley Black & Decker

Stanley Black & Decker, Inc engages in the tools and storage and industrial businesses in the United States, Canada, rest of Americas, France, rest of Europe, and Asia. Its Tools & Storage segment offers professional products, including professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products, such as corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as corded and cordless lawn and garden products and related accessories; home products; and hand tools, power tool accessories, and storage products.