Griffon (GFF) Beats Stock Market Upswing: What Investors Need to Know
The most recent trading session ended with Griffon (GFF) standing at $58.71, reflecting a +1.02% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq appreciated by 0.36%.
Shares of the garage door and building products maker witnessed a loss of 4.38% over the previous month, beating the performance of the Conglomerates sector with its loss of 5.42% and underperforming the S&P 500's gain of 2.4%.
The investment community will be paying close attention to the earnings performance of Griffon in its upcoming release. In that report, analysts expect Griffon to post earnings of $0.78 per share. This would mark a year-over-year decline of 9.3%. Simultaneously, our latest consensus estimate expects the revenue to be $597.26 million, showing an 8.03% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.62 per share and a revenue of $2.6 billion, signifying shifts of +1.76% and -3.16%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Griffon. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Griffon is currently a Zacks Rank #1 (Strong Buy).
From a valuation perspective, Griffon is currently exchanging hands at a Forward P/E ratio of 12.57. For comparison, its industry has an average Forward P/E of 15.82, which means Griffon is trading at a discount to the group.
The Diversified Operations industry is part of the Conglomerates sector. At present, this industry carries a Zacks Industry Rank of 56, placing it within the top 23% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Griffon Corporation (GFF) : Free Stock Analysis Report
