Smith & Wesson Holding Corp. (NASDAQ: SWHC) Sales Up

Smith & Wesson Holding Corp. (NASDAQ: SWHC) sales jumped a staggering 40% and profit more than doubled in it first quarter as Americans proved their love for firearms has not waned.

Smith & Wesson Holding Corp. (NASDAQ: SWHC)  is trading lower today haveing lost 6.49 percent with an hour left in the trading day before the Labor Day Holiday.

Over all, for the quarter ended in July, Smith & Wesson reported a profit of $32.6 million, or 57 cents a share, up from $14.4 million, or 26 cents a share, a year earlier. Excluding certain items, the company’s per-share earnings rose to 62 cents from 32 cents a year earlier.

Analysts, on average, had expected earnings of 53 cents a share on sales of $198 million, according to Thomson Reuters.
Shares of  Smith & Wesson Holding Corp. (NASDAQ: SWHC) have gained 61% over the past year.

The largest U.S. gun maker said it expected sales to rise again over the coming 12 months.

Smith & Wesson also expects adjusted earnings on a per-share basis to land between $2.38 and $2.48, up from a previous outlook of between $1.83 and $1.93. Analysts expected annual adjusted earnings of $1.92 a share.

Analysts at Craig Hallun today downgraded the stock form buy to hold. Other analyst have a consensus price target of $29.13 on the stock.

Consensus Ratings for Smith & Wesson Holding Corp. (NASDAQ:SWHC)

Ratings Breakdown: 6 Hold Ratings, 3 Buy Ratings
Consensus Rating: Hold (Score: 2.33)
Consensus Price Target: $29.13 (1.54% downside)

About Smith & Wesson Holding Corp.

Smith & Wesson Holding Corporation is a manufacturer of firearms. The Company manufactures an array of handguns, including revolvers and pistols; long guns, including modern sporting rifles, bolt action rifles, and single shot rifles; handcuffs, and firearm-related products and accessories. The Company operates through two segments: firearms and accessories. The firearm segment consists of products and services manufactured and sold from its Springfield, Massachusetts; Houlton, Maine, and Deep River, Connecticut facilities, which includes firearms, handcuffs, and other related products. The Company sells the products through a distribution chain and direct sales to consumers and international, state, and federal Governments. The accessories segment consists of hunting and shooting accessories developed and marketed from its Columbia, Missouri facility. The Company also provides shooting, reloading, gunsmithing, and gun cleaning supplies.

Key Metrics:

  • Previous Close: $29.58
  • 50 Day Moving Average: $29.23
  • 200 Day Moving Average: $25.81
  • 52-Week Range: $16.33 – $31.19
  • Trailing P/E Ratio: 16.40
  • Foreward P/E Ratio: 13.76
  • P/E Growth: 0.98
  • Market Cap: $1.54B
  • Outstanding Shares: 55,998,000
  • Beta: 1.13

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