$0.28 Earnings Per Share Expected for Griffon Co. (NYSE:GFF) This Quarter

Wall Street brokerages expect Griffon Co. (NYSE:GFF) to post $0.28 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Griffon’s earnings, with estimates ranging from $0.25 to $0.30. Griffon reported earnings per share of $0.27 in the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The business is expected to report its next earnings report on Wednesday, August 7th.

On average, analysts expect that Griffon will report full year earnings of $1.05 per share for the current fiscal year. For the next year, analysts expect that the firm will post earnings of $1.31 per share, with EPS estimates ranging from $1.19 to $1.42. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Griffon.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. Griffon had a net margin of 0.57% and a return on equity of 9.03%. The company had revenue of $549.63 million for the quarter, compared to analyst estimates of $556.35 million.

Several research firms have commented on GFF. Robert W. Baird set a $18.00 price target on shares of Griffon and gave the company a “hold” rating in a report on Monday, April 22nd. Zacks Investment Research lowered shares of Griffon from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.40.

NYSE:GFF opened at $16.42 on Wednesday. Griffon has a one year low of $9.65 and a one year high of $19.86. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.45 and a current ratio of 2.70. The firm has a market capitalization of $790.93 million, a price-to-earnings ratio of 16.57 and a beta of 2.23.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 24th were issued a $0.0725 dividend. This represents a $0.29 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, May 23rd. Griffon’s payout ratio is 38.16%.

Large investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL raised its position in shares of Griffon by 2.5% in the first quarter. Gamco Investors INC. ET AL now owns 5,532,987 shares of the conglomerate’s stock worth $102,250,000 after acquiring an additional 133,576 shares during the period. BlackRock Inc. raised its position in shares of Griffon by 2.6% in the fourth quarter. BlackRock Inc. now owns 4,976,297 shares of the conglomerate’s stock worth $52,004,000 after acquiring an additional 125,129 shares during the period. Gabelli Funds LLC raised its position in shares of Griffon by 1.6% in the first quarter. Gabelli Funds LLC now owns 2,157,000 shares of the conglomerate’s stock worth $39,861,000 after acquiring an additional 33,592 shares during the period. Royce & Associates LP raised its position in shares of Griffon by 16.3% in the fourth quarter. Royce & Associates LP now owns 986,251 shares of the conglomerate’s stock worth $10,306,000 after acquiring an additional 137,961 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Griffon by 23.2% in the fourth quarter. Bank of New York Mellon Corp now owns 638,177 shares of the conglomerate’s stock worth $6,670,000 after acquiring an additional 120,045 shares during the period. 66.96% of the stock is currently owned by institutional investors.

About Griffon

Griffon Corp. is a management and holding company, which engages in the direction and assistance to its subsidiaries. It operates through the Home and Building Products, and Defense Electronics segments. The Home and Building Products segment consists of two companies, which manufactures branded consumer and professional tools, landscaping products, and outdoor lifestyle solutions; and sells residential,and commercial garage doors.

Featured Story: Put Option Volume

Get a free copy of the Zacks research report on Griffon (GFF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Griffon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Griffon and related companies with MarketBeat.com's FREE daily email newsletter.