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What Raised The SWBI Stock In After Market Trades?

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The shares of Smith & Wesson Brands Inc. (SWBI) rose 5.27% to trade at $20.97 in after-hours trading. SWBI’s stock closed Thursday’s session at $19.92, down -3.07 percent from Wednesday’s closing price.

SWBI stock volume remained high at 3.1 million, compared to the average daily volume of 1.38 million within the past 50 days. SWBI shares have risen by 43.13% over the last 12 months, and they have moved down by -4.87% in the past week.

Over the past three months, the stock has gained 7.62%, while over the past six months, it has shed 15.61%. Further, the company has a current market of $1.05 billion and its outstanding shares stood at 55.14 million. SWBI stock gained traction following the release of its quarterly results.

How did SWBI perform?

A leading U.S. manufacturer of firearms and suppressors, Smith & Wesson Brands is known for its wide offering of handguns, long guns, and suppressors. SWBI serves consumers and professionals around the world under the iconic Smith & Wesson, M&P, and Gemtech brands. In addition to forging, machining, and precision plastic injection molding, SWBI also offers manufacturing services.

Smith & Wesson released its fourth quarter and full year ended April 30, 2021, financial results yesterday.

Fourth Quarter Fiscal 2021 Financial Highlights:

  • Quarterly Sales of SWBI in the fourth quarter totaled $322.9 million, in comparison with $193.0 million in the same period last year.
  • A gross margin of 45.1% was achieved by SWBI for the quarter, compared to 32.2% in the year-ago quarter.
  • Compared with $20.9 million, or $0.38 per diluted share, in last year’s comparable quarter, SWBI’s GAAP net income for the current quarter was $89.2 million, or $1.70 per diluted share.
  • SWBI’s Net income for the comparable quarter last year was $27.5 million, or $0.50 per diluted share, as compared with $89.6 million this quarter, or $1.71 per diluted share.
  • During the comparable quarter last year, non-GAAP Adjusted EBITDAS of SWBI was $51.6 million, or 26.7% of net sales, while it was $125.6 million or 38.9% of net sales in the reported quarter.

SWBI’s further plans:

The SWBI Board approved a new $50 million share repurchase program, in addition to a 60% increase in the quarterly dividend. Dividends will be paid to SWBI stockholders on July 6th for records held on July 1st.

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