Business

Smith & Wesson gains as profit tops estimates amid buybacks

Smith & Wesson shares are up 16 percent this year.
Smith & Wesson shares are up 16 percent this year.Suzanne Kreiter/Globe Staff

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Smith & Wesson Holding Corp. surged the most in almost five months after announcing a $100 million stock repurchase plan and reporting preliminary profit that was higher than analysts had estimated. The Springfield-based company said profit for the three months ended April 30 was probably 44 cents a share, a record, compared with 27 cents per share a year earlier. That compared with an average estimate of 40 cents, according to data compiled by Bloomberg.

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