Power and hand tools maker Stanley Black & Decker, Inc. ( SWK ) late Wednesday posted first quarter earnings results that missed Wall Street expectations, sending its shares lower in aftermarket trading.
The New Britain, CT-based company reported first quarter net income of $121.8 million, or 72 cents per share, compared with $158.7 million, or 92 cents per share, in the year-ago period. Excluding special items, adjusted profit was $1.09 per share.
Revenue rose 12% from last year to $2.65 billion.
On average, Wall Street analysts expected a higher profit of $1.12 per share, albeit on smaller revenue of $2.63 billion.
Looking ahead, SWK backed its previously-announced full-year earnings outlook of $5.75 to $6 per share, while analysts are looking for $5.85 per share for the year.
Stanley Black & Decker shares fell $1.49, or -1.9%, in premarket trading Thursday.
The Bottom Line
Shares of Stanley Black & Decker ( SWK ) have a 2.09% dividend yield, based on last night's closing stock price of $78.49. The stock has technical support in the $70-$75 price area. The stock is trading near the all-time high levels of $81-$82 a share.
Stanley Black & Decker, Inc. ( SWK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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