Gabelli Weighs in on Stanley Black & Decker, Inc.’s FY2020 Earnings (SWK)
Stanley Black & Decker, Inc. (NYSE:SWK) – Gabelli increased their FY2020 EPS estimates for Stanley Black & Decker in a research note issued to investors on Tuesday, December 4th. Gabelli analyst J. Bergner now expects that the industrial products company will post earnings of $9.40 per share for the year, up from their previous forecast of $9.20. Gabelli has a “Buy” rating and a $155.00 price objective on the stock. Gabelli also issued estimates for Stanley Black & Decker’s FY2021 earnings at $10.35 EPS and FY2022 earnings at $11.20 EPS.
Several other research analysts also recently issued reports on SWK. Zacks Investment Research downgraded shares of Stanley Black & Decker from a “hold” rating to a “sell” rating in a research report on Tuesday, October 30th. Macquarie set a $140.00 price objective on shares of Stanley Black & Decker and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Robert W. Baird raised shares of Stanley Black & Decker from a “neutral” rating to an “outperform” rating and set a $154.00 price objective on the stock in a research report on Monday. KeyCorp set a $170.00 price objective on shares of Stanley Black & Decker and gave the stock a “buy” rating in a research report on Friday, October 26th. Finally, Credit Suisse Group set a $135.00 price objective on shares of Stanley Black & Decker and gave the stock a “buy” rating in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. Stanley Black & Decker currently has an average rating of “Buy” and a consensus target price of $163.29.
Stanley Black & Decker (NYSE:SWK) last posted its earnings results on Thursday, October 25th. The industrial products company reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.04. Stanley Black & Decker had a net margin of 7.22% and a return on equity of 16.71%. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.59 billion.
Large investors have recently modified their holdings of the company. Rational Advisors LLC lifted its stake in shares of Stanley Black & Decker by 6,076.9% in the third quarter. Rational Advisors LLC now owns 803 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 790 shares during the period. Resources Management Corp CT ADV acquired a new stake in shares of Stanley Black & Decker in the third quarter valued at about $125,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Stanley Black & Decker in the second quarter valued at about $136,000. NEXT Financial Group Inc acquired a new stake in shares of Stanley Black & Decker in the third quarter valued at about $139,000. Finally, Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Stanley Black & Decker in the third quarter valued at about $191,000. 86.43% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Jaime A. Ramirez sold 8,251 shares of Stanley Black & Decker stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $111.29, for a total value of $918,253.79. Following the sale, the senior vice president now owns 36,566 shares of the company’s stock, valued at $4,069,430.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael David Hankin bought 907 shares of the stock in a transaction dated Monday, October 29th. The stock was purchased at an average cost of $112.93 per share, for a total transaction of $102,427.51. Following the acquisition, the director now owns 2,157 shares of the company’s stock, valued at $243,590.01. The disclosure for this purchase can be found here. 0.69% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Friday, November 30th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, November 29th. Stanley Black & Decker’s payout ratio is 35.44%.
About Stanley Black & Decker
Stanley Black & Decker, Inc provides tools and storage, engineered fastening and infrastructure, and security solutions worldwide. The company's Tools & Storage segment offers professional products, including corded and cordless electric power tools and equipment, drills, impact wrenches and drivers, grinders, saws, routers, and sanders, as well as pneumatic tools and fasteners, including nail guns, nails, staplers and staples, and concrete and masonry anchors; and consumer products, such as lawn and garden products comprising hedge and string trimmers, lawn mowers, and edgers and related accessories, as well as home products, such as hand-held vacuums, paint tools, and cleaning appliances.
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