In the latest trading session, Griffon (GFF) closed at $70.80, marking a -0.99% move from the previous day. This change lagged the S&P 500’s daily gain of 0.08%. On the other hand, the Dow registered a gain of 0.08%, and the technology-centric Nasdaq increased by 0.52%.
The garage door and building products maker’s shares have seen a decrease of 4.65% over the last month, not keeping up with the Conglomerates sector’s loss of 0.72% and outstripping the S&P 500’s loss of 7.33%.
The investment community will be paying close attention to the earnings performance of Griffon in its upcoming release. The company is predicted to post an EPS of $1.17, indicating a 13.33% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $614 million, indicating an 8.75% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.68 per share and a revenue of $2.59 billion, indicating changes of +10.94% and -1.2%, respectively, from the former year.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Griffon. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 2.43% upward. Griffon is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Griffon is holding a Forward P/E ratio of 12.59. This valuation marks a discount compared to its industry’s average Forward P/E of 16.06.
The Diversified Operations industry is part of the Conglomerates sector. With its current Zacks Industry Rank of 40, this industry ranks in the top 16% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
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