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SWK

Stanley Black & Decker

$113.08

-3.99 (-3.41%)

06:06
10/25/18
10/25
06:06
10/25/18
06:06

Stanley Black & Decker trims FY18 adjusted EPS view to $8.10-$8.20

Previous EPS view was $8.30-$8.50. Consensus is $8.35. The following reflects the key assumption changes to the Company's prior adjusted EPS outlook: Higher input costs, including tariffs, FX & commodities (- ~$0.25); Lower expected organic growth (- ~$0.15); Lower anticipated tax rate and other below the line items (+ ~$0.15). Donald Allan Jr., EVP and CFO, commented, "Our 2018 guidance now contemplates $370 million of commodity, currency and tariff headwinds and delivers strong organic growth of 6% and adjusted earnings per share growth of 9%. We are pleased with our expected 2018 performance given the magnitude of the headwinds. As we shift to 2019, we are now preparing for the carry over effect of the 2018 headwinds. We will continue to pass on these input cost increases to our customers as price increases. Additionally, we are taking actions to adjust our supply chain and cost structure. We anticipate the cost reduction program to deliver $250 million in annual cost savings in 2019. The pre-tax restructuring charge is expected to be approximately $125 million and is anticipated to be booked during the fourth quarter of 2018. We continue to take the appropriate actions to protect our margins and our competitiveness in the face of these external headwinds and position the business for EPS expansion once again in 2019. The organization remains focused on strong day-to-day execution and operational excellence and we believe the Company is well-positioned to deliver sustained above-market organic growth with operating leverage, strong free cash flow conversion and top-quartile shareholder returns over the long-term."

  • 25

    Oct

SWK Stanley Black & Decker
$113.08

-3.99 (-3.41%)

09/17/18
09/17/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Reliance Steel (RS) initiated with a Neutral at Citi. 2. Bausch Health (BHC) assumed with an Overweight at Barclays. 3. Stanley Black & Decker (SWK) initiated with an Outperform at Credit Suisse. 4. Aramark (ARMK) initiated with an Outperform at Bernstein. 5. Kraft Heinz (KHC) was assumed with an Underweight at Morgan Stanley, while Mondelez (MDLZ), General Mills (GIS), and Kellogg (K) were assumed with an Equal Weight. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/17/18
FBCO
10/17/18
NO CHANGE
Target $160
FBCO
Outperform
Stanley Black & Decker price target lowered to $160 from $170 at Credit Suisse
Credit Suisse analyst Susan Maklari lowered her price target for Stanley Black & Decker to $160 from $170 based on a DCF assuming: 5% EBITDA growth over the next 10 years, a 3% terminal growth rate and 10% WACC. The analyst believes the company can leverage its category positioning as well as ongoing focus on cost improvement through its Stanley Fulfillment System to offset inflationary and trade-related headwinds, allowing for margin expansion through 2019. She reiterates an Outperform rating on the shares.
10/22/18
GABE
10/22/18
UPGRADE
GABE
Buy
Stanley Black & Decker upgraded to Buy from Hold at Gabelli
10/22/18
GABE
10/22/18
UPGRADE
GABE
Buy
Follow-up: Stanley Black & Decker upgraded to Buy at Gabelli
As previously reported, Gabelli upgraded Stanley Black & Decker to Buy from Hold with a $155 price target. Analyst Justin Bergner believes a miss and guidance down is already reflected in the stock price ahead of Q3 results and is positive on long-term outsized growth. Bergner believes the Sears bankruptcy will "bolster" the Craftsman brand through Stanley, tariffs will be a competitive advantage versus peers, and views the outgrowth story as intact.

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JCOM

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ATTO

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ATTO

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ITCB

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OCUL

Ocular Therapeutix

$3.36

-0.1 (-2.89%)

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YGYI

Youngevity

$6.57

0.13 (2.02%)

, QFIN

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TOL

Toll Brothers

$37.52

-0.88 (-2.29%)

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TTWO

Take-Two

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AAL

American Airlines

$30.96

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LWAY

Lifeway Foods

$2.75

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WHLR

Wheeler REIT

$2.25

0.025 (1.13%)

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WMT

Walmart

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QFIN

360 Finance

$16.46

0.71 (4.51%)

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MRK

Merck

$78.86

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PRIM

Primoris

$20.26

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BK

BNY Mellon

$45.97

-0.11 (-0.24%)

, LM

Legg Mason

$35.68

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DHR

Danaher

$130.33

-0.81 (-0.62%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$283.95

-2.03 (-0.71%)

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S&P 500

$0.00

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SPY

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$283.95

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LM

Legg Mason

$35.68

0.295 (0.83%)

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XYF

X Financial

$5.42

0.1 (1.88%)

17:34
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