Smith & Wesson Brands, Inc. (SWBI) has disclosed a new risk, in the Accounting & Financial Operations category.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Smith & Wesson Brands, Inc. has identified a material weakness in its internal control over financial reporting, specifically related to the accrual of certain legal expenses. This deficiency raises the risk of material misstatements in the company’s financial statements, which may not be prevented or detected promptly. Although the company is implementing a remediation plan, there is no assurance that these measures will be sufficient to address the issue or prevent future weaknesses. Consequently, the company may face the possibility of restating its financial statements if the weakness persists or additional issues arise.
Overall, Wall Street has a Hold consensus rating on SWBI stock based on 1 Hold.
To learn more about Smith & Wesson Brands, Inc.’s risk factors, click here.