Griffon (NYSE:GFF – Get Free Report) announced its quarterly earnings data on Wednesday. The conglomerate reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.51, Briefing.com reports. Griffon had a return on equity of 72.80% and a net margin of 2.65%. The company had revenue of $672.88 million for the quarter, compared to analyst estimates of $625.22 million. During the same quarter last year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Griffon updated its FY 2024 guidance to EPS.
Griffon Stock Down 3.0 %
Shares of NYSE GFF opened at $67.75 on Wednesday. The firm’s 50 day moving average price is $69.68 and its 200 day moving average price is $60.01. 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 has a 1 year low of $29.11 and a 1 year high of $75.18. The firm has a market cap of $3.45 billion, a P/E ratio of 50.56 and a beta of 1.43.
Griffon Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, May 29th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. Griffon’s dividend payout ratio is currently 44.78%.
Analyst Upgrades and Downgrades
Read Our Latest Analysis on GFF
Insider Activity
In other 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 transaction 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 approximately $1,269,641.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.
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