Smith & Wesson (NASDAQ:SWBI) stock is aiming higher on Friday after the company reported earnings for its fiscal fourth quarter of 2021 after-hours yesterday.
Here’s everything investors need to know about Smith & Wesson’s recent quarter and why it has SWBI stock heading higher.
- Let’s start off with the company’s adjusted earnings per share for the quarter, which came in at $1.71.
- That’s great news for SWBI stock as it easily blows past Wall Street’s adjusted EPS estimate of $1.02.
- It was also a massive increase over the company’s adjusted EPS of 50 cents from the same period of the year prior.
- In addition to this, Smith & Wesson reported revenue of $322.9 million during its most recent quarter.
- That’s another benefit for SWBI stock as analysts were looking for revenue of $260 million.
- The company’s revenue was also up 67.3% year-over-year.
- It’s not just the strong earnings report that has SWBI stock up today.
- The firearms company is also getting praise from experts for its strong fiscal Q4 earnings.
- That includes Cowen analyst Cai Von Rmohr, who upped his price target for SWBI stock.
- This has him setting a new price target of $30.50 as compared to his previous price target of $24 per share.
- It’s also worth noting that the Cowen analyst maintained their outperform rating for the stock.
- SWBI stock is seeing heavy trading today on the positive news.
- As of this writing, roughly 9 million shares of the stock have changed hands.
- That’s a massive jump compared to its daily average trading volume of 1.5 million shares.
SWBI stock was up 14.6% as of Friday morning.
Investors that are still hungry for more stock market news should keep reading.
InvestorPlace.com has plenty of stock market coverage worth checking in on today. That includes the latest news that has Nvidia (NASDAQ:NVDA), Palantir Technologies (NYSE:PLTR), and GEO Group (NYSE:GEO) shares on the move today. You can learn all about that at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
