Credit Agricole Downgrades Stanley Black & Decker to Outperform (SWK)
Stanley Black & Decker (NYSE:SWK) was downgraded by analysts at Credit Agricole from a “buy” rating to an “outperform” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
Shares of Stanley Black & Decker (NYSE:SWK) traded down 0.25% during mid-day trading on Monday, hitting $90.54. 435,074 shares of the company’s stock traded hands. Stanley Black & Decker has a one year low of $74.13 and a one year high of $92.76. The stock has a 50-day moving average of $87.30 and a 200-day moving average of $83.. The company has a market cap of $14.153 billion and a P/E ratio of 24.03.
Stanley Black & Decker (NYSE:SWK) last issued its quarterly earnings data on Friday, July 25th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.37 by $0.06. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts predict that Stanley Black & Decker will post $5.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 16th. Stockholders of record on Friday, September 5th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, September 3rd. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.50.
A number of other analysts have also recently weighed in on SWK. Analysts at Barclays raised their price target on shares of Stanley Black & Decker from $83.00 to $85.00 in a research note on Wednesday, July 2nd. They now have an “underweight” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Stanley Black & Decker in a research note on Thursday, May 1st. They now have a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $87.14.
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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