Griffon (GFF) Dips More Than Broader Market: What You Should Know

Griffon (GFF) closed at $57.73 in the latest trading session, marking a -0.4% move from the prior day. This change lagged the S&P 500's 0.34% loss on the day. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq lost 0.56%.

Prior to today's trading, shares of the garage door and building products maker had gained 16.48% over the past month. This has outpaced the Conglomerates sector's gain of 3.72% and the S&P 500's gain of 2.56% in that time.

Investors will be eagerly watching for the performance of Griffon in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.78, reflecting a 9.3% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $597.26 million, down 8.03% from the prior-year quarter.

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.

Any recent changes to analyst estimates for Griffon should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Griffon is holding a Zacks Rank of #1 (Strong Buy) right now.

Looking at valuation, Griffon is presently trading at a Forward P/E ratio of 12.54. This valuation marks a discount compared to its industry's average Forward P/E of 15.61.

The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.

Just Released: Zacks Top 10 Stocks for 2024

Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.

See New Top 10 Stocks >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Griffon Corporation (GFF) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.