This High Yield Dividend King Is Set to Benefit From EV Growth
Stanley Black & Decker's (NYSE: SWK) stock is down a painful 50% or so in 2022. There is a good reason for that drop, but it is opening up an opportunity for long-term investors. And, notably, there's an interesting electric vehicle (EV) angle to the story. Here's what you need to know.
At the start of 2020, industrial Stanley Black & Decker was looking for adjusted earnings to come in between $12.00 and $12.50 a share. By the end of the first quarter, that was dropped to a range of $9.50 to $10.50. And after the second quarter, that range was dropped again to $5.00 to $6.00, half or less of the guidance at the start of the year. No wonder the stock has been cut in half.
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Source Fool.com
