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Griffon (GFF - Free Report) closed the most recent trading day at $98.39, moving +1.92% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.51% for the day. On the other hand, the Dow registered a gain of 0.93%, and the technology-centric Nasdaq increased by 0.48%.
Shares of the garage door and building products maker witnessed a loss of 2.68% over the previous month, beating the performance of the Conglomerates sector with its loss of 4.78%, and underperforming the S&P 500's gain of 0.74%.
The investment community will be paying close attention to the earnings performance of Griffon in its upcoming release. The company's earnings per share (EPS) are projected to be $1.6, reflecting a 3.9% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $480.94 million, indicating a 27.37% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.41 per share and a revenue of $1.84 billion, demonstrating changes of -4.25% and -27.05%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Griffon. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Griffon possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Griffon is presently being traded at a Forward P/E ratio of 17.83. For comparison, its industry has an average Forward P/E of 13.25, which means Griffon is trading at a premium to the group.
The Diversified Operations industry is part of the Conglomerates sector. At present, this industry carries a Zacks Industry Rank of 45, placing it within the top 19% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Why Griffon (GFF) Outpaced the Stock Market Today
Griffon (GFF - Free Report) closed the most recent trading day at $98.39, moving +1.92% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.51% for the day. On the other hand, the Dow registered a gain of 0.93%, and the technology-centric Nasdaq increased by 0.48%.
Shares of the garage door and building products maker witnessed a loss of 2.68% over the previous month, beating the performance of the Conglomerates sector with its loss of 4.78%, and underperforming the S&P 500's gain of 0.74%.
The investment community will be paying close attention to the earnings performance of Griffon in its upcoming release. The company's earnings per share (EPS) are projected to be $1.6, reflecting a 3.9% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $480.94 million, indicating a 27.37% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.41 per share and a revenue of $1.84 billion, demonstrating changes of -4.25% and -27.05%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Griffon. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Griffon possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Griffon is presently being traded at a Forward P/E ratio of 17.83. For comparison, its industry has an average Forward P/E of 13.25, which means Griffon is trading at a premium to the group.
The Diversified Operations industry is part of the Conglomerates sector. At present, this industry carries a Zacks Industry Rank of 45, placing it within the top 19% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.