Griffon (GFF) to Release Earnings on Wednesday

Griffon (NYSE:GFF) is scheduled to announce its earnings results before the market opens on Wednesday, August 7th. Analysts expect the company to announce earnings of $1.46 per share for the quarter. Griffon has set its FY 2024 guidance at EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, May 8th. The conglomerate reported $1.35 EPS for the quarter, topping the consensus estimate of $0.84 by $0.51. Griffon had a net margin of 7.48% and a return on equity of 90.02%. The business had revenue of $672.88 million during the quarter, compared to analysts’ expectations of $625.22 million. During the same quarter in the prior year, the company posted $1.21 earnings per share. The firm’s revenue was down 5.4% 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 Stock Up 3.7 %

GFF stock traded up $2.49 during midday trading on Tuesday, hitting $69.57. The company’s stock had a trading volume of 156,945 shares, compared to its average volume of 422,130. The company’s fifty day moving average price is $66.99 and its 200 day moving average price is $67.54. Griffon has a twelve month low of $38.33 and a twelve month high of $77.99. The company has a debt-to-equity ratio of 7.80, a current ratio of 2.78 and a quick ratio of 1.56. The stock has a market capitalization of $3.45 billion, a P/E ratio of 18.15 and a beta of 1.29.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, May 29th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Wednesday, May 29th. Griffon’s dividend payout ratio is currently 15.83%.

Wall Street Analyst Weigh In

GFF has been the topic of several recent analyst reports. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. Robert W. Baird upped their price target on shares of Griffon from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Strong Buy” and an average target price of $81.00.

Insider Activity

In related news, CEO Ronald J. Kramer sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $67.07, for a total transaction of $6,707,000.00. Following the transaction, the chief executive officer now directly owns 2,500,746 shares of the company’s stock, valued at approximately $167,725,034.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ronald J. Kramer sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $67.07, for a total value of $6,707,000.00. Following the transaction, the chief executive officer now owns 2,500,746 shares in the company, valued at approximately $167,725,034.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO W. Christopher Durborow sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $66.88, for a total transaction of $869,440.00. Following the sale, the chief accounting officer now owns 48,368 shares of the company’s stock, valued at $3,234,851.84. The disclosure for this sale can be found here. Insiders own 16.10% of the company’s stock.

About Griffon

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.