$618.77 Million in Sales Expected for Allegion PLC (ALLE) This Quarter
Wall Street brokerages expect Allegion PLC (NYSE:ALLE) to announce sales of $618.77 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Allegion PLC’s earnings. The lowest sales estimate is $616.70 million and the highest is $620.90 million. Allegion PLC reported sales of $581.10 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.5%. The business is scheduled to announce its next earnings results before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that Allegion PLC will report full-year sales of $618.77 million for the current year, with estimates ranging from $2.39 billion to $2.42 billion. For the next year, analysts forecast that the business will report sales of $2.53 billion per share, with estimates ranging from $2.49 billion to $2.56 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Allegion PLC.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings data on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.11. The company had revenue of $627.00 million during the quarter, compared to analyst estimates of $613.37 million. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS.
A number of brokerages have recently issued reports on ALLE. Robert W. Baird set a $85.00 price target on Allegion PLC and gave the stock a “hold” rating in a research report on Thursday, August 24th. BidaskClub raised Allegion PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Wolfe Research began coverage on Allegion PLC in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $84.75.
In related news, insider Timothy P. Eckersley sold 12,782 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $81.14, for a total value of $1,037,131.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Allegion PLC in the 2nd quarter valued at $2,516,000. Credit Suisse AG increased its position in shares of Allegion PLC by 18.1% in the 1st quarter. Credit Suisse AG now owns 120,646 shares of the scientific and technical instruments company’s stock valued at $9,134,000 after acquiring an additional 18,495 shares during the period. BlackRock Inc. increased its position in shares of Allegion PLC by 5,286.4% in the 1st quarter. BlackRock Inc. now owns 5,209,003 shares of the scientific and technical instruments company’s stock valued at $394,319,000 after acquiring an additional 5,112,297 shares during the period. Xact Kapitalforvaltning AB acquired a new position in shares of Allegion PLC in the 2nd quarter valued at $1,193,000. Finally, Legal & General Group Plc increased its position in shares of Allegion PLC by 19.2% in the 2nd quarter. Legal & General Group Plc now owns 449,434 shares of the scientific and technical instruments company’s stock valued at $36,458,000 after acquiring an additional 72,258 shares during the period. 89.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Allegion PLC (NYSE ALLE) opened at 86.73 on Thursday. Allegion PLC has a 12-month low of $61.47 and a 12-month high of $87.76. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 33.55 and a beta of 1.13. The firm has a 50 day moving average price of $81.45 and a 200-day moving average price of $79.40.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, September 15th. Allegion PLC’s payout ratio is presently 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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