Griffon (GFF) closed the most recent trading day at $91.47, moving -2.29% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 1.01%. On the other hand, the Dow registered a loss of 0.77%, and the technology-centric Nasdaq decreased by 1.4%.
Shares of the garage door and building products maker witnessed a gain of 2.72% over the previous month, beating the performance of the Conglomerates sector with its loss of 24.24%, and the S&P 500's gain of 0.32%.
The investment community will be closely monitoring the performance of Griffon in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.33, marking a 11.33% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $453.9 million, showing a 26.03% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.17 per share and a revenue of $1.81 billion, signifying shifts of -8.5% and -28.24%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Griffon. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Griffon is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Griffon is holding a Forward P/E ratio of 18.12. This represents a premium compared to its industry average Forward P/E of 12.67.
The Diversified Operations industry is part of the Conglomerates sector. With its current Zacks Industry Rank of 188, this industry ranks in the bottom 24% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
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Griffon Corporation (GFF): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).