Stock Story -
Manufacturing company Stanley Black & Decker (NYSE:SWK) will be reporting results tomorrow before the bell. Here's what you need to know.
Stanley Black & Decker met analysts' revenue expectations last quarter, reporting revenues of $3.87 billion, down 1.6% year on year. It was a strong quarter for the company, with a solid beat of analysts' organic revenue estimates and a narrow beat of analysts' earnings estimates .
Is Stanley Black & Decker a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Stanley Black & Decker's revenue to decline 3.4% year on year to $4.02 billion, improving from the 5.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.84 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Stanley Black & Decker has missed Wall Street's revenue estimates four times over the last two years.
Looking at Stanley Black & Decker's peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Fortive delivered year-on-year revenue growth of 1.7%, meeting analysts' expectations, and Dover reported revenues up 3.7%, topping estimates by 1.4%. Fortive traded down 8.6% following the results while Dover was up 5.1%.
Read the full analysis of Fortive's and Dover's results on StockStory.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 10.9% on average over the last month. Stanley Black & Decker is up 22% during the same time and is heading into earnings with an average analyst price target of $90.9 (compared to the current share price of $94.83).
