1 No-Brainer Turnaround Stock to Buy With $1,000 Right Now
Sometimes the best time to buy a company is exactly when it is hardest to like the business, which is exactly the case with Stanley Black & Decker (NYSE: SWK) right now. But you can take comfort in the fact that management is predicting that 2024 will see an upturn on the bottom line. Here's what you need to know and why this iconic industrial company is a great place to invest $1,000 today.
In 2021, coming out of the COVID-19 pandemic, Stanley Black & Decker reported full-year adjusted earnings of $10.48 per share. That was a huge 30% higher than what it earned in 2020 and a record number for the company. To be fair, there were some extenuating circumstances. People were working from home and socially distancing, which likely resulted in more do-it-yourself home improvement projects actually getting done. You need the tools that Stanley Black & Decker sells to do that kind of work. Still, all told, 2021 was obviously a very good year for this industrial company.
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Source Fool.com
