Stanley Black and Decker down on missing Q3 revenue estimates

Stanley Black & Decker

29/10/2024 12:37

** Shares of tool maker Stanley Black & Decker  SWK.N  down
4% at $99 premarket
    ** Co misses Q3 revenue estimates due to tepid demand and
challenges in the automotive market
    ** Overall revenue fell 5% to $3.75 bln, below analysts'
estimates of $3.80 billion - LSEG 
    ** Co also tightens FY profit forecast range between $3.90
and $4.30/shr, from a prior range of $3.70 to $4.50/shr
    ** 16 of 19 brokerages rate the stock "buy" or higher and 3
"hold"; their median PT is $120.50 - LSEG 
    ** Up to last close, stock up 5% YTD

 (Reporting by Anshuman Tripathy in Bengaluru)
 ((Anshuman.Tripathy@thomsonreuters.com;))