Stanley Black & Decker (SWK) reported quarterly earnings results on Friday, Jul-22-2016. The company said it had a profit of $1.84 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $1.71. The company posted revenue of $2932.40 million in the period, compared to analysts expectations of $2910.15 million. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS.
Many Wall Street Analysts have commented on Stanley Black & Decker. Goldman Initiated Stanley Black & Decker on Jun 10, 2016 to “Neutral”, Price Target of the shares are set at $120.
Stanley Black & Decker opened for trading at $116.83 and hit $117.28 on the upside on Wednesday, eventually ending the session at $116.99, with a gain of 0.34% or 0.4 points. The heightened volatility saw the trading volume jump to 6,88,374 shares. Company has a market cap of $17,562 M.
Investors should note that on Jul 21, 2016, Stanley Black & Decker announced a cash dividend of $0.5800. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Sep 20, 2016.
In a different news, on Jul 15, 2016, Lee B Mcchesney (CFO,GT&S and Pres.,Ind Vert) sold 1,875 shares at $118.06 per share price. According to the SEC, on May 26, 2016, Rhonda Gass (VP & Chief Information Officer) sold 1,978 shares at $114.75 per share price. On May 26, 2016, Ben S Sihota (SVP, Corp Initiatives) sold 4,375 shares at $114.70 per share price, according to the Form-4 filing with the securities and exchange commission.
Stanley Black & Decker Inc. is a global provider of power and hand tools products and services. The Company provides products and services for various industrial applications mechanical access solutions (automatic doors and commercial locking systems) and electronic security and monitoring systems. The Company’s operating segments include: Construction & Do-It-Yourself (CDIY) Industrial and Security. The CDIY segment consists of the Professional Power Tool Business; the Consumer Products Group which includes outdoor products; the Hand Tools & Storage business and the Fastening & Accessories business. The Industrial segment consists of the Industrial and Automotive Repair (IAR) Engineered Fastening and Infrastructure Businesses. The Security segment consists of the Convergent Security Solutions (CSS) and Mechanical Access Solutions (MAS) businesses.