Griffon (GFF) Scheduled to Post Earnings on Wednesday

Griffon (NYSE:GFF) is scheduled to 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. Parties interested in listening to the company’s conference call can do so using this link.

Griffon (NYSE:GFF) last posted its earnings results on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. Griffon had a return on equity of 72.80% and a net margin of 2.65%. The company had revenue of $643.20 million for the quarter, compared to the consensus estimate of $595.87 million. During the same quarter in the prior year, the company earned $0.86 earnings per share. Griffon’s revenue was down 1.0% on a year-over-year basis. 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

GFF stock traded up $1.12 during trading on Monday, reaching $70.25. The stock had a trading volume of 21,685 shares, compared to its average volume of 372,886. Griffon has a 52 week low of $29.11 and a 52 week high of $75.18. The stock’s 50 day moving average is $69.71 and its two-hundred day moving average is $59.59. The company has a current ratio of 2.46, a quick ratio of 1.24 and a debt-to-equity ratio of 5.02. The firm has a market cap of $3.58 billion, a PE ratio of 51.59 and a beta of 1.43.

Griffon Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Wednesday, February 28th. Griffon’s dividend payout ratio is 44.78%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director James W. Sight sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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 is available through this hyperlink. 16.10% of the stock is owned by corporate insiders.

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.