Griffon (GFF) Scheduled to Post Earnings on Wednesday

Griffon (NYSE:GFF) will be releasing its earnings data before the market opens on Wednesday, May 8th. Analysts expect Griffon to post earnings of $0.92 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Wednesday, February 7th. The conglomerate reported $1.07 EPS for the quarter, beating the consensus estimate of $0.78 by $0.29. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The company had revenue of $643.20 million for the quarter, compared to analyst estimates of $595.87 million. During the same quarter last year, the business earned $0.86 earnings per share. Griffon’s revenue was down 1.0% compared to the same quarter last year. 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 traded up $1.12 during trading hours on Monday, hitting $70.25. The stock had a trading volume of 21,685 shares, compared to its average volume of 372,886. The stock’s fifty day simple moving average is $69.71 and its 200 day simple moving average is $59.59. Griffon has a 1-year low of $29.11 and a 1-year high of $75.18. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 51.59 and a beta of 1.43. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.24 and a current ratio of 2.46.

Griffon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. Griffon’s dividend payout ratio is presently 44.78%.

Analysts Set New Price Targets

Several research analysts have issued reports on GFF shares. Robert W. Baird lifted their price target on shares of Griffon from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Griffon from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Raymond James lifted their price target on shares of Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Monday, February 5th. Two analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Griffon currently has a consensus rating of “Strong Buy” and an average target price of $69.50.

Insider Buying and Selling

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

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.