The Smartest Turnaround Stock to Buy With $500 Right Now
With just one quarter down in 2024, Stanley Black Decker (NYSE: SWK) is finally starting to show some exciting progress on its turnaround plan. That doesn't mean it's complete, not by a long shot. But if you have $500 burning a hole in your pocket and you don't mind taking on a little risk, you'll want to examine this iconic toolmaker and Dividend King and its historically high 3.6% Dividend yield. Here's why.
From a big-picture perspective, Stanley Black Decker's earnings imploded after reaching record levels in 2021, when people were upgrading their homes as they worked from home because of the pandemic. Back then, adjusted earnings rose 30% year over year to $10.48 per share. Over the next two years, however, the industrial company's adjusted earnings plunged to end 2023 at a much less impressive $1.45 per share.
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Source Fool.com
