Morgan Stanley Downgrades Stanley Black & Decker to Equal Weight (SWK)
Stanley Black & Decker (NYSE:SWK) was downgraded by stock analysts at Morgan Stanley to an “equal weight” rating in a report issued on Thursday, American Banking News.com reports.
Several other analysts have also recently commented on the stock. Analysts at Barclays downgraded shares of Stanley Black & Decker to an “underweight” rating in a research note to investors on Thursday. Separately, analysts at Robert W. Baird downgraded shares of Stanley Black & Decker from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday. Finally, analysts at Longbow Research upgraded shares of Stanley Black & Decker from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, October 1st. They now have a $110.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Stanley Black & Decker presently has a consensus rating of “Hold” and a consensus target price of $91.38.
Stanley Black & Decker (NYSE:SWK) opened at 76.75 on Thursday. Stanley Black & Decker has a 52-week low of $66.18 and a 52-week high of $92.76. The stock’s 50-day moving average is $88.94 and its 200-day moving average is $82.66. The company has a market cap of $12.286 billion and a price-to-earnings ratio of 14.19.
Stanley Black & Decker (NYSE:SWK) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $1.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.39. The company had revenue of $2.80 million for the quarter, compared to the consensus estimate of $2.81 million. During the same quarter in the prior year, the company posted $1.40 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts expect that Stanley Black & Decker will post $5.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Friday, December 6th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, December 4th.
Stanley Black & Decker Inc is a diversified global provider of power and hand tools, mechanical access solutions (NYSE:SWK), electronic security and monitoring systems and products and services for various industrial applications.
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