Stanley Black & Decker, Inc. (SWK) Expected to Announce Quarterly Sales of $3.15 Billion
Wall Street brokerages expect that Stanley Black & Decker, Inc. (NYSE:SWK) will report sales of $3.15 billion for the current quarter, Zacks reports. Eight analysts have made estimates for Stanley Black & Decker’s earnings, with the highest sales estimate coming in at $3.20 billion and the lowest estimate coming in at $3.10 billion. Stanley Black & Decker reported sales of $2.88 billion in the same quarter last year, which would suggest a positive year over year growth rate of 9.4%. The company is expected to report its next earnings results on Thursday, October 26th.
On average, analysts expect that Stanley Black & Decker will report full year sales of $3.15 billion for the current year, with estimates ranging from $12.25 billion to $12.51 billion. For the next financial year, analysts forecast that the company will report sales of $13.07 billion per share, with estimates ranging from $12.82 billion to $13.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Stanley Black & Decker.
Stanley Black & Decker (NYSE:SWK) last issued its earnings results on Monday, July 24th. The industrial products company reported $2.01 EPS for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.05. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.18 billion. Stanley Black & Decker had a return on equity of 15.36% and a net margin of 9.92%. Stanley Black & Decker’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.84 earnings per share.
A number of research analysts have recently issued reports on SWK shares. Zacks Investment Research lowered Stanley Black & Decker from a “buy” rating to a “hold” rating in a report on Friday, May 19th. BidaskClub lowered Stanley Black & Decker from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Imperial Capital reissued an “in-line” rating and issued a $125.00 target price on shares of Stanley Black & Decker in a report on Monday, April 24th. J P Morgan Chase & Co raised Stanley Black & Decker from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $140.00 to $152.00 in a report on Monday, April 24th. Finally, Nomura started coverage on Stanley Black & Decker in a report on Wednesday, April 12th. They issued a “buy” rating and a $145.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Stanley Black & Decker currently has a consensus rating of “Buy” and an average target price of $153.69.
In other Stanley Black & Decker news, SVP Jaime A. Ramirez sold 10,440 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $139.56, for a total transaction of $1,457,006.40. Following the sale, the senior vice president now directly owns 41,541 shares in the company, valued at $5,797,461.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.15% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of SWK. BlackRock Inc. increased its stake in Stanley Black & Decker by 1,670.7% in the first quarter. BlackRock Inc. now owns 10,447,937 shares of the industrial products company’s stock worth $1,388,216,000 after buying an additional 9,857,885 shares during the last quarter. Boston Partners increased its stake in Stanley Black & Decker by 9.7% in the first quarter. Boston Partners now owns 3,714,012 shares of the industrial products company’s stock worth $493,481,000 after buying an additional 329,259 shares during the last quarter. Cornerstone Investment Partners LLC increased its stake in Stanley Black & Decker by 4,009.6% in the second quarter. Cornerstone Investment Partners LLC now owns 327,497 shares of the industrial products company’s stock worth $46,089,000 after buying an additional 319,528 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in Stanley Black & Decker during the second quarter worth approximately $34,675,000. Finally, State Street Corp increased its stake in Stanley Black & Decker by 3.2% in the first quarter. State Street Corp now owns 7,828,768 shares of the industrial products company’s stock worth $1,040,211,000 after buying an additional 244,854 shares during the last quarter. Institutional investors own 83.77% of the company’s stock.
Shares of Stanley Black & Decker (NYSE:SWK) opened at 142.35 on Monday. The stock has a market cap of $21.80 billion, a price-to-earnings ratio of 18.23 and a beta of 1.10. Stanley Black & Decker 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 $143.05 and a 200 day moving average price of $134.16.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 1st will be paid a $0.63 dividend. The ex-dividend date is Wednesday, August 30th. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.58. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.77%. Stanley Black & Decker’s payout ratio is 29.74%.
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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