Griffon (NYSE:GFF) Issues Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Griffon (NYSE:GFF) posted its quarterly earnings data on Wednesday. The conglomerate reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.51, Briefing.com reports. Griffon had a return on equity of 72.80% and a net margin of 2.65%. The firm had revenue of $672.88 million for the quarter, compared to analysts’ expectations of $625.22 million. During the same quarter last year, the business earned $1.21 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Griffon updated its FY 2024 guidance to EPS.

Griffon Price Performance

GFF stock opened at $72.65 on Thursday. The company has a quick ratio of 1.24, a current ratio of 2.46 and a debt-to-equity ratio of 5.02. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 54.22 and a beta of 1.43. The company’s fifty day simple moving average is $69.73 and its 200 day simple moving average is $60.10. Griffon has a 12-month low of $29.78 and a 12-month high of $77.99.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.83%. Griffon’s dividend payout ratio (DPR) is presently 44.78%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GFF. Raymond James raised their price objective on Griffon from $60.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Monday, February 5th. StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 2nd. Robert W. Baird upped their price target on shares of Griffon from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Griffon from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Two research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Griffon has an average rating of “Strong Buy” and an average price target of $80.33.

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.