Griffon (GFF) Set to Announce Quarterly Earnings on Wednesday

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

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.29. The company 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 firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. 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

Shares of NYSE:GFF remained flat at $67.18 during midday trading on Thursday. 13,391 shares of the stock traded hands, compared to its average volume of 374,107. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.24 and a current ratio of 2.46. The business’s 50-day moving average is $69.67 and its 200 day moving average is $59.05. Griffon has a 12-month low of $28.42 and a 12-month high of $75.18. The stock has a market cap of $3.42 billion, a P/E ratio of 50.15 and a beta of 1.43.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Wednesday, February 28th. Griffon’s payout ratio is currently 44.78%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Griffon

In related news, Director James W. Sight sold 2,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 18,843 shares of the company’s stock, valued at $1,269,641.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 16.10% of the company’s stock.

Griffon Company Profile

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.