Griffon Co. (NYSE:GFF) announced a quarterly dividend on Thursday, July 30th, RTT News reports. Stockholders of record on Thursday, August 20th will be paid a dividend of 0.075 per share by the conglomerate on Thursday, September 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.31%.
Griffon has increased its dividend by an average of 39.3% per year over the last three years and has increased its dividend every year for the last 9 years. Griffon has a payout ratio of 31.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Griffon to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 27.3%.
Shares of NYSE:GFF opened at $22.87 on Friday. The company has a 50-day simple moving average of $18.40 and a 200-day simple moving average of $17.32. Griffon has a one year low of $9.15 and a one year high of $27.53. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.40 and a current ratio of 2.59. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 20.24 and a beta of 2.21.
Griffon (NYSE:GFF) last announced its earnings results on Thursday, July 30th. The conglomerate reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.46. The business had revenue of $632.06 million during the quarter, compared to analysts’ expectations of $548.10 million. Griffon had a net margin of 2.13% and a return on equity of 14.23%. As a group, research analysts forecast that Griffon will post 1.08 EPS for the current fiscal year.
Several research firms recently issued reports on GFF. ValuEngine cut shares of Griffon from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Investment Research raised shares of Griffon from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $23.33.
Griffon Company Profile
Griffon Corp. is a management and holding company, which engages in the direction and assistance to its subsidiaries. It operates through the Home and Building Products, and Defense Electronics segments. The Home and Building Products segment consists of two companies, which manufactures branded consumer and professional tools, landscaping products, and outdoor lifestyle solutions; and sells residential,and commercial garage doors.
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