Griffon (GFF) Set to Announce Earnings on Wednesday

Griffon (NYSE:GFF) will be issuing its quarterly earnings data before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.92 per share for the quarter.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. The business had revenue of $643.20 million for the quarter, compared to analysts’ expectations of $595.87 million. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. On average, analysts expect Griffon to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Griffon Stock Performance

GFF remained flat at $67.18 on Thursday. 13,391 shares of the company were exchanged, compared to its average volume of 374,107. The firm has a 50 day moving average of $69.67 and a two-hundred day moving average of $59.05. The stock has a market cap of $3.42 billion, a P/E ratio of 50.15 and a beta of 1.43. Griffon has a 12-month low of $28.42 and a 12-month high of $75.18. The company has a debt-to-equity ratio of 5.02, a current ratio of 2.46 and a quick ratio of 1.24.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Wednesday, February 28th. Griffon’s dividend payout ratio is presently 44.78%.

Insider Buying and Selling at Griffon

In other Griffon news, Director James W. Sight sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $67.38, for a total value of $134,760.00. Following the transaction, the director now owns 18,843 shares in the company, valued at approximately $1,269,641.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 16.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GFF. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Griffon from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. StockNews.com cut shares of Griffon from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 2nd. Robert W. Baird increased their price objective on Griffon from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Finally, Raymond James lifted their target price on Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Monday, February 5th. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $69.50.

About Griffon

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.