Wall Street brokerages expect Griffon Co. (NYSE:GFF) to announce $686.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Griffon’s earnings, with the highest sales estimate coming in at $704.00 million and the lowest estimate coming in at $668.00 million. Griffon posted sales of $660.67 million in the same quarter last year, which suggests a positive year over year growth rate of 3.8%. The firm is expected to report its next quarterly earnings report on Thursday, November 11th.
On average, analysts expect that Griffon will report full year sales of $2.58 billion for the current financial year, with estimates ranging from $2.56 billion to $2.60 billion. For the next financial year, analysts expect that the business will report sales of $2.62 billion, with estimates ranging from $2.62 billion to $2.63 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Griffon.
Griffon (NYSE:GFF) last released its quarterly earnings data on Thursday, July 29th. The conglomerate reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. Griffon had a return on equity of 13.32% and a net margin of 3.27%. The business had revenue of $646.79 million during the quarter, compared to analyst estimates of $616.85 million.
A number of hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its position in Griffon by 16.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 182,424 shares of the conglomerate’s stock worth $4,676,000 after acquiring an additional 25,585 shares during the period. Morgan Stanley boosted its position in Griffon by 28.4% during the 2nd quarter. Morgan Stanley now owns 197,305 shares of the conglomerate’s stock worth $5,057,000 after acquiring an additional 43,613 shares during the period. Hillcrest Asset Management LLC acquired a new position in Griffon during the 2nd quarter worth $11,035,000. Wells Fargo & Company MN boosted its position in Griffon by 12.4% during the 2nd quarter. Wells Fargo & Company MN now owns 2,288,957 shares of the conglomerate’s stock worth $58,666,000 after acquiring an additional 252,144 shares during the period. Finally, Zacks Investment Management acquired a new position in Griffon during the 2nd quarter worth $325,000. Institutional investors own 72.74% of the company’s stock.
NYSE:GFF traded down $0.97 during midday trading on Friday, reaching $22.92. 4,467 shares of the company traded hands, compared to its average volume of 232,074. Griffon has a twelve month low of $18.37 and a twelve month high of $29.19. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 14.38 and a beta of 1.97. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.63 and a quick ratio of 1.54. The company has a fifty day moving average price of $23.70 and a 200 day moving average price of $25.54.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 16th. Shareholders of record on Thursday, August 19th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, August 18th. This represents a $0.32 dividend on an annualized basis and a yield of 1.40%. Griffon’s dividend payout ratio (DPR) is presently 19.75%.
Griffon Corp. is a diversified management and holding company, which conducts business through its subsidiaries. It provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities. The company operates through three reportable segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics.
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