2 Beaten-Down Industrial Stocks to Snag While They're Still Trading at a Discount
When a stock gets beaten down by Wall Street, there's usually a good reason. The question for investors is, how permanent is the headwind? If the problems are likely to be temporary, or at least surmountable over time, a down-and-out stock could be a good long-term buying opportunity. Right now, Stanley Black Decker (NYSE: SWK) and 3M (NYSE: MMM) are getting hammered and, for the right investors, could be worth a closer look. Here's why.
Tool maker Stanley Black Decker posted adjusted earnings of $10.48 in 2021. That fell to $4.62 in 2022 and is expected to decline again in 2023 to somewhere between breakeven and $2 per share. This is not a good trend, and investors have reacted by pushing the Dividend King's shares down 60% from their 2021 highs.
Image source: Getty Images.
Source Fool.com
