2023 Is a Transition Year, but 2024 Could Be Huge for This Dividend King
Despite being an elite Dividend King, Stanley Black Decker (NYSE: SWK) is not a stock for the faint of heart today. In fact, share prices have fallen nearly 60% from their 2021 high-water mark. Unfortunately, it's been for good reason. But management is upbeat about the future, and if its expectations prove out, the company's earnings are set for a huge rebound in 2024.
Toolmaker Stanley Black Decker's problems didn't show up overnight. They were built over years, as the company went on a debt-fueled acquisition spree. That was compounded by the fact that the company operates in the cyclical industrial sector. And since many of the company's products are also sold to consumers, the business can be even more volatile than other cyclical industrial stocks. Ultimately, when things went south here, they went south in a big way.
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Source Fool.com
