Analysts Anticipate Allegion PLC (ALLE) Will Post Quarterly Sales of $618.77 Million
Wall Street analysts expect that Allegion PLC (NYSE:ALLE) will announce sales of $618.77 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Allegion PLC’s earnings, with the lowest sales estimate coming in at $616.70 million and the highest estimate coming in at $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 company is expected to announce its next quarterly 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 financial year, with estimates ranging from $2.39 billion to $2.42 billion. For the next year, analysts anticipate 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 analysts that cover Allegion PLC.
Allegion PLC (NYSE:ALLE) last released 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 return on equity of 198.25% and a net margin of 10.76%. The firm had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $613.37 million. During the same quarter last year, the business posted $0.99 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis.
Several brokerages recently weighed in on ALLE. BidaskClub lowered Allegion PLC from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Robert W. Baird set a $85.00 price target on Allegion PLC and gave the company a “hold” rating in a research note on Thursday, August 24th. Wells Fargo & Company restated an “outperform” rating and issued a $100.00 price target (up previously from $90.00) on shares of Allegion PLC in a research note on Wednesday, October 18th. Finally, Wolfe Research began coverage on Allegion PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $89.75.
Allegion PLC (NYSE:ALLE) traded up 0.97% during mid-day trading on Tuesday, hitting $88.16. The company had a trading volume of 283,832 shares. The firm has a market capitalization of $8.37 billion, a P/E ratio of 34.10 and a beta of 1.13. The company has a 50-day moving average price of $85.05 and a 200 day moving average price of $80.64. Allegion PLC has a 12 month low of $61.47 and a 12 month high of $89.81.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.64 annualized dividend and a dividend yield of 0.73%. Allegion PLC’s dividend payout ratio is presently 24.62%.
In other Allegion PLC news, insider Timothy P. Eckersley sold 12,782 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Tredje AP fonden purchased a new stake in Allegion PLC during the 2nd quarter worth approximately $105,000. QS Investors LLC increased its stake in Allegion PLC by 1.2% during the 2nd quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock worth $106,000 after buying an additional 16 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Allegion PLC by 210.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock worth $107,000 after buying an additional 959 shares in the last quarter. Whittier Trust Co. increased its stake in Allegion PLC by 94.2% during the 3rd quarter. Whittier Trust Co. now owns 1,237 shares of the scientific and technical instruments company’s stock worth $107,000 after buying an additional 600 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its stake in Allegion PLC by 75.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the scientific and technical instruments company’s stock worth $114,000 after buying an additional 600 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.
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About Allegion PLC
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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