Stanley Black & Decker, Inc. (SWK) Issues FY17 Earnings Guidance
Stanley Black & Decker, Inc. (NYSE:SWK) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of $7.18-7.38 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.24.
Several brokerages have recently commented on SWK. Morgan Stanley boosted their price objective on Stanley Black & Decker from $150.00 to $154.00 and gave the company an equal weight rating in a research report on Thursday, August 10th. BidaskClub downgraded Stanley Black & Decker from a hold rating to a sell rating in a research report on Saturday, August 5th. Zacks Investment Research cut Stanley Black & Decker from a buy rating to a hold rating in a report on Monday, July 31st. UBS AG reaffirmed a buy rating and issued a $160.00 target price (up from $150.00) on shares of Stanley Black & Decker in a report on Tuesday, July 25th. Finally, FBR & Co reissued an outperform rating on shares of Stanley Black & Decker in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $154.00.
Shares of Stanley Black & Decker, Inc. (NYSE:SWK) traded down 0.45% during mid-day trading on Friday, hitting $137.50. The company had a trading volume of 1,526,455 shares. Stanley Black & Decker, Inc. has a 52-week low of $111.89 and a 52-week high of $148.32. The firm has a 50-day moving average price of $142.51 and a 200 day moving average price of $135.60. The firm has a market capitalization of $21.06 billion, a price-to-earnings ratio of 17.61 and a beta of 1.10.
Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings data on Monday, July 24th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.05. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Stanley Black & Decker had a net margin of 9.92% and a return on equity of 15.36%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.84 EPS. Analysts expect that Stanley Black & Decker, Inc. will post $7.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 1st will be given a dividend of $0.63 per share. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.58. This represents a $2.52 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Wednesday, August 30th. Stanley Black & Decker’s payout ratio is 29.74%.
In other news, SVP Jaime A. Ramirez sold 10,440 shares of Stanley Black & Decker stock in a transaction on Friday, June 9th. The shares were sold at an average price of $139.56, for a total transaction of $1,457,006.40. Following the completion of the sale, the senior vice president now directly owns 41,541 shares of the company’s stock, valued at approximately $5,797,461.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.15% of the stock is currently owned by insiders.
About Stanley Black & Decker
Stanley Black & Decker, Inc is a global provider of hand tools, power tools and related accessories, mechanical access solutions, such as automatic doors and commercial locking systems, electronic security and monitoring systems, healthcare solutions, engineered fastening systems, and products and services for various industrial applications.
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