Griffon (GFF) to Release Earnings on Wednesday

Griffon (NYSE:GFF) will be announcing its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.92 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Griffon (NYSE:GFF) last posted its quarterly earnings data 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 firm had revenue of $643.20 million for the quarter, compared to analysts’ expectations of $595.87 million. During the same period in the previous year, the firm earned $0.86 EPS. The business’s quarterly 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 Trading Down 1.1 %

NYSE GFF traded down $0.79 during trading hours on Tuesday, hitting $69.02. 22,791 shares of the company were exchanged, compared to its average volume of 370,737. The stock has a market cap of $3.52 billion, a PE ratio of 52.10 and a beta of 1.43. The stock has a 50-day moving average price of $69.72 and a 200 day moving average price of $59.80. Griffon has a 52 week low of $29.11 and a 52 week high of $75.18. The company has a quick ratio of 1.24, a current ratio of 2.46 and a debt-to-equity ratio of 5.02.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Wednesday, February 28th. Griffon’s payout ratio is presently 44.78%.

Analysts Set New Price Targets

Several brokerages have weighed in on GFF. Robert W. Baird raised their target price on shares of Griffon from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Raymond James raised their target price on Griffon from $60.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Monday, February 5th. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Griffon from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Strong Buy” and an average price target of $69.50.

Insider Transactions at Griffon

In other Griffon news, Director James W. Sight sold 2,000 shares of the 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 transaction, the director now owns 18,843 shares of the company’s stock, valued at approximately $1,269,641.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company 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.