In the latest close session, Griffon (GFF) was down 1.69% at $90.59. This change lagged the S&P 500's daily gain of 0.6%. Elsewhere, the Dow gained 0.83%, while the tech-heavy Nasdaq added 0.64%.
Heading into today, shares of the garage door and building products maker had lost 3.31% over the past month, outpacing the Conglomerates sector's loss of 3.47% and lagging the S&P 500's gain of 1.34%.
The upcoming earnings release of Griffon will be of great interest to investors. The company's upcoming EPS is projected at $1.6, signifying a 3.90% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $480.94 million, indicating a 27.37% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.41 per share and a revenue of $1.84 billion, indicating changes of -4.25% and -27.05%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Griffon. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Griffon boasts a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Griffon currently has a Forward P/E ratio of 14.62. This expresses a premium compared to the average Forward P/E of 12.56 of its industry.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 41, positioning it in the top 17% of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Griffon Corporation (GFF): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).