In the latest trading session, Griffon (GFF) closed at $90.62, marking a +1.92% move from the previous day. This move outpaced the S&P 500's daily gain of 0.05%. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the garage door and building products maker had lost 7.31% was narrower than the Conglomerates sector's loss of 19.14% and lagged the S&P 500's gain of 0.61%.
The investment community will be paying close attention to the earnings performance of Griffon in its upcoming release. The company's upcoming EPS is projected at $1.33, signifying a 11.33% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $453.9 million, indicating a 26.03% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.17 per share and revenue of $1.81 billion. These totals would mark changes of -8.5% and -28.24%, respectively, from last year.
Any recent changes to analyst estimates for Griffon should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Griffon boasts a Zacks Rank of #3 (Hold).
Investors should also note Griffon's current valuation metrics, including its Forward P/E ratio of 17.21. This signifies a premium in comparison to the average Forward P/E of 13.52 for its industry.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 154, positioning it in the bottom 38% 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.
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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Originally published on zacks.com, part of the BLOX Digital Content Exchange.
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