Stanley Black & Decker Issues Fiscal 2014 Guidance
Dec 12th 2013 10:53PM
Updated Dec 12th 2013 10:54PM
Stanley Black & Decker shares were up in trading following the company's unveiling of its guidance for fiscal 2014. The power tools specialist is projecting that its EPS for the year will be $5.30 to $5.50 per share, on organic growth of roughly 4% on a year-over-year basis.The former is in line with the average analyst estimate of $5.40 per share.
In the press release detailing the figures, the company said it believes growth will come from the investments it has made this year, combined with the results of a recent spate of cost-cutting measures.
In presenting the 2014 projections, Stanley Black & Decker also reaffirmed its existing fiscal 2013 estimates. The firm still anticipates that it will post EPS of $4.90 to $5.00 for the year, on organic growth of 3% over 2012 The average analyst EPS estimate is $4.94.
In the wake of the new guidance, the company's stock advanced by 1.5%, or $1.20, to close the day at $80.55 per share.
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