Why Griffon (GFF) Outpaced the Stock Market Today
Griffon (GFF) closed at $61.69 in the latest trading session, marking a +0.36% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.04%. On the other hand, the Dow registered a gain of 0.14%, and the technology-centric Nasdaq decreased by 0.03%.
The the stock of garage door and building products maker has risen by 33.49% in the past month, leading the Conglomerates sector's gain of 7.51% and the S&P 500's gain of 5.28%.
The investment community will be paying close attention to the earnings performance of Griffon in its upcoming release. The company is expected to report EPS of $0.78, down 9.3% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $597.26 million, indicating an 8.03% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.62 per share and a revenue of $2.6 billion, representing changes of +1.76% and -3.16%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Griffon. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 12.95% higher. Griffon presently features a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Griffon is holding a Forward P/E ratio of 13.3. This expresses a discount compared to the average Forward P/E of 17.78 of its industry.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 41, positioning it in the top 17% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GFF in the coming trading sessions, be sure to utilize Zacks.com.
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Griffon Corporation (GFF) : Free Stock Analysis Report
