This Dividend King Is Set for a Big Rebound in 2024
Shares of Stanley Black & Decker (NYSE: SWK) are down roughly 50% from their 2021 highs. There are very good reasons for this, as you'll learn below. But the company is expecting an incredible improvement in earnings in 2024. Assuming it can live up to this forecast, the stock could be in for a big rebound, too. Here's what you need to know.
During the coronavirus pandemic, demand for the tools that Stanley Black & Decker produces was quite strong. It makes sense: People stuck at home took on home improvement projects to enhance their living experience. Adjusted earnings in 2021 rose 30% versus 2020 and hit a record of $10.48 per share. As 2022 got underway, the company was projecting adjusted annual earnings to come in between $12.00 and $12.50 per share, which would have been yet another record result.
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Source Fool.com
