Why Smith & Wesson Stock Is Aimed Higher After Earnings
Portfolio Pulse from Erica Kollmann
Smith & Wesson Brands, Inc. (NASDAQ:SWBI) shares rose after reporting Q3 earnings of 19 cents per share, surpassing the 10 cents estimate, with sales of $137.5 million beating the $133.548 million estimate. The company announced a 12 cent per share dividend and gained market share. Lake Street analyst raised the price target from $14.50 to $16. Despite a 28.6% increase in share price to $17.28, the average 1-year price target suggests a -6.76% downside in 2025.
March 08, 2024 | 6:40 pm
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Smith & Wesson reported higher-than-expected Q3 earnings and sales, announced a dividend, and received a price target upgrade from Lake Street. Shares are up 28.6% to $17.28, but future outlook suggests a potential downside.
The positive earnings report and dividend announcement are likely to boost investor confidence in the short term, contributing to the stock's recent rise. However, the analyst's future outlook and the expected downside in 2025 suggest caution.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100