Griffon (GFF) Rises As Market Takes a Dip: Key Facts
Griffon (GFF) closed the most recent trading day at $57.73, moving +0.38% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.56%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
Shares of the garage door and building products maker witnessed a gain of 0.12% over the previous month, beating the performance of the Conglomerates sector with its loss of 4.7% and underperforming the S&P 500's gain of 1.2%.
Analysts and investors alike will be keeping a close eye on the performance of Griffon in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.78, showcasing a 9.3% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $597.26 million, showing an 8.03% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.62 per share and revenue of $2.6 billion. These totals would mark changes of +1.76% and -3.16%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Griffon. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Griffon holds a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Griffon is currently being traded at a Forward P/E ratio of 12.44. For comparison, its industry has an average Forward P/E of 15.47, which means Griffon is trading at a discount to the group.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Griffon Corporation (GFF) : Free Stock Analysis Report
