Zacks: Brokerages Anticipate Allegion PLC (ALLE) Will Post Quarterly Sales of $618.77 Million
Wall Street brokerages expect Allegion PLC (NYSE:ALLE) to announce $618.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Allegion PLC’s earnings, with the highest sales estimate coming in at $620.90 million and the lowest estimate coming in at $616.70 million. Allegion PLC posted sales of $581.10 million in the same quarter last year, which suggests a positive year over year growth rate of 6.5%. The firm is expected to report its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Allegion PLC will report full year sales of $618.77 million for the current financial year, with estimates ranging from $2.39 billion to $2.42 billion. For the next financial year, analysts expect that the business will report sales of $2.53 billion per share, with estimates ranging from $2.49 billion to $2.56 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Allegion PLC.
Allegion PLC (NYSE:ALLE) last announced its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The company had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $613.37 million. During the same quarter in the previous year, the company posted $0.99 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis.
A number of research analysts have recently weighed in on the company. BidaskClub upgraded Allegion PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Wolfe Research assumed coverage on Allegion PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research cut Allegion PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Robert W. Baird set a $85.00 price target on Allegion PLC and gave the company a “hold” rating in a research report on Thursday, August 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $86.00.
In related news, insider Timothy P. Eckersley sold 12,782 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $81.14, for a total transaction of $1,037,131.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tredje AP fonden acquired a new stake in shares of Allegion PLC during the second quarter valued at $105,000. QS Investors LLC boosted its stake in shares of Allegion PLC by 1.2% during the second quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock valued at $106,000 after acquiring an additional 16 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Allegion PLC by 75.0% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the scientific and technical instruments company’s stock valued at $114,000 after acquiring an additional 600 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Allegion PLC by 210.8% during the first quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock valued at $107,000 after acquiring an additional 959 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Allegion PLC during the first quarter valued at $174,000. 89.86% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Allegion PLC (ALLE) opened at 82.77 on Friday. The firm has a market cap of $7.86 billion, a PE ratio of 32.02 and a beta of 1.10. The firm’s 50-day moving average is $79.81 and its 200 day moving average is $78.34. Allegion PLC has a 52 week low of $61.47 and a 52 week high of $82.97.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, September 15th. Allegion PLC’s dividend payout ratio is currently 24.62%.
Allegion PLC Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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