Griffon (GFF) to Release Quarterly Earnings on Wednesday

Griffon (NYSE:GFF) will issue its quarterly earnings data before the market opens on Wednesday, November 13th. Analysts expect the company to announce earnings of $1.21 per share for the quarter.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a net margin of 7.27% and a return on equity of 96.05%. The company had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $688.94 million. During the same quarter in the prior year, the firm earned $1.29 EPS. Griffon’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts expect Griffon to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Griffon Stock Down 0.4 %

Shares of NYSE:GFF opened at $66.96 on Thursday. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50. Griffon has a 52-week low of $42.13 and a 52-week high of $77.99. The firm has a market capitalization of $3.30 billion, a P/E ratio of 18.03 and a beta of 1.31. The stock has a 50 day moving average price of $66.39 and a 200-day moving average price of $66.58.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GFF shares. Robert W. Baird lifted their target price on shares of Griffon from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, October 21st. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Stephens reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Griffon in a research report on Tuesday, September 10th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $83.50.

Insider Buying and Selling

In other news, CEO Ronald J. Kramer sold 100,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total value of $6,226,000.00. Following the transaction, the chief executive officer now directly owns 2,260,746 shares in the company, valued at $140,754,045.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Griffon news, CEO Ronald J. Kramer sold 39,247 shares of Griffon stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $70.03, for a total transaction of $2,748,467.41. Following the completion of the transaction, the chief executive officer now directly owns 2,221,499 shares of the company’s stock, valued at $155,571,574.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ronald J. Kramer sold 100,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.26, for a total transaction of $6,226,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,260,746 shares in the company, valued at approximately $140,754,045.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 260,464 shares of company stock valued at $17,244,450. Company insiders own 16.10% of the company’s stock.

Griffon Company Profile

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.