What You Need to Know Ahead of Stanley Black & Decker's Earnings Release

Barchart · 10/16 03:42

New Britain, Connecticut-based Stanley Black & Decker, Inc. (SWK) is a diversified global provider of hand tools, power tools and related accessories, mechanical access and electronic security solutions, healthcare solutions, engineered fastening systems, and more. Valued at $16.7 billion by market cap, the company offers onshore and offshore pipeline construction and inspection services. The leading manufacturer of hand and power tools is expected to announce its fiscal third-quarter earnings for 2024 after the market closes on Tuesday, Oct. 29.

Ahead of the event, analysts expect SWK to report a profit of $1.03 per share on a diluted basis, down 1.9% from $1.05 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.

For the full year, analysts expect SWK to report EPS of $4.18, up 188.3% from $1.45 in fiscal 2023. Its EPS is expected to rise 37.6% year over year to $5.75 in fiscal 2025.

SWK stock has underperformed the S&P 500’s ($SPX) 34.4% gains over the past 52 weeks, with shares up 31.5% during this period. Similarly, it underperformed the Industrial Select Sector SPDR Fund’s (XLI) 35.8% gains over the same time frame.

On Jul. 30, SWK shares closed up more than 9% after reporting its Q2 results. Its adjusted EPS of $1.09 surpassed Wall Street expectations of $0.85. The company’s revenue was $4.02 billion, topping Wall Street forecasts of $4.01 billion. SWK expects full-year adjusted EPS to be between $3.70 and $4.50.

Analysts’ consensus opinion on SWK stock is cautious, with a “Hold” rating overall. Out of 15 analysts covering the stock, four advise a “Strong Buy” rating, nine give a “Hold” rating, and two recommend a “Strong Sell.” While SWK currently trades above its mean price target of $106.82, the Street-high price target of $135 suggests an upside potential of 26.1%.

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On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.