Brokerages Expect Griffon Co. (NYSE:GFF) to Post $0.41 Earnings Per Share

Analysts expect that Griffon Co. (NYSE:GFF) will report earnings of $0.41 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Griffon’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.45. Griffon posted earnings of $0.59 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 30.5%. The company is expected to issue its next earnings report on Thursday, July 29th.

On average, analysts expect that Griffon will report full-year earnings of $1.91 per share for the current year, with EPS estimates ranging from $1.89 to $1.95. For the next fiscal year, analysts anticipate that the business will post earnings of $2.15 per share, with EPS estimates ranging from $2.07 to $2.25. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Griffon.

Griffon (NYSE:GFF) last released its quarterly earnings results on Thursday, April 29th. The conglomerate reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.16. The firm had revenue of $634.83 million during the quarter, compared to the consensus estimate of $621.83 million. Griffon had a net margin of 3.49% and a return on equity of 15.13%.

GFF has been the subject of several analyst reports. Raymond James raised their price target on shares of Griffon from $27.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, April 30th. Zacks Investment Research upgraded shares of Griffon from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Tuesday, May 4th. Five analysts have rated the stock with a buy rating, Griffon presently has a consensus rating of “Buy” and an average target price of $30.60.

GFF stock opened at $25.17 on Tuesday. The company’s fifty day simple moving average is $26.90. The company has a market capitalization of $1.43 billion, a P/E ratio of 14.14 and a beta of 1.97. Griffon has a 52-week low of $16.35 and a 52-week high of $29.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.60 and a quick ratio of 1.54.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 20th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, May 19th. Griffon’s dividend payout ratio (DPR) is presently 19.75%.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Griffon by 5.4% in the first quarter. BlackRock Inc. now owns 7,298,964 shares of the conglomerate’s stock worth $198,313,000 after purchasing an additional 374,208 shares during the period. Select Equity Group L.P. grew its holdings in Griffon by 11.8% in the first quarter. Select Equity Group L.P. now owns 1,915,921 shares of the conglomerate’s stock worth $52,056,000 after purchasing an additional 202,855 shares during the period. Wells Fargo & Company MN grew its holdings in Griffon by 20.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,847,066 shares of the conglomerate’s stock worth $37,644,000 after purchasing an additional 313,949 shares during the period. Westwood Holdings Group Inc. acquired a new stake in Griffon in the first quarter worth $27,167,000. Finally, Geode Capital Management LLC grew its holdings in Griffon by 13.9% in the first quarter. Geode Capital Management LLC now owns 746,210 shares of the conglomerate’s stock worth $20,274,000 after purchasing an additional 91,299 shares during the period. Institutional investors and hedge funds own 72.31% of the company’s stock.

About Griffon

Griffon Corporation, through its subsidiaries, engages in the consumer and professional products, home and building products, and defense electronics businesses primarily in the United States, Europe, Canada, Australia, the United Kingdom, Mexico, and China. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools.

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Earnings History and Estimates for Griffon (NYSE:GFF)

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