Allegion PLC (ALLE) Expected to Post Quarterly Sales of $609.65 Million

Wall Street analysts expect that Allegion PLC (NYSE:ALLE) will announce sales of $609.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Allegion’s earnings, with estimates ranging from $609.00 million to $610.30 million. Allegion posted sales of $569.70 million in the same quarter last year, which suggests a positive year over year growth rate of 7%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Allegion will report full year sales of $609.65 million for the current financial year, with estimates ranging from $2.39 billion to $2.40 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.54 billion per share. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Allegion.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.02. Allegion had a net margin of 14.37% and a return on equity of 154.50%. The firm had revenue of $609.40 million during the quarter, compared to analyst estimates of $622.18 million. During the same period in the prior year, the business earned $0.93 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year.

Several research firms have weighed in on ALLE. Robert W. Baird set a $85.00 price target on shares of Allegion and gave the company a “hold” rating in a research note on Thursday, August 24th. BidaskClub raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Wolfe Research upgraded shares of Allegion from a “market perform” rating to an “outperform” rating in a research note on Monday, October 30th. Zacks Investment Research lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $100.00 price target (up from $90.00) on shares of Allegion in a research note on Wednesday, October 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $89.75.

Shares of Allegion (NYSE:ALLE) opened at $84.14 on Friday. The company has a market capitalization of $7,919.90, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. Allegion has a 52-week low of $63.71 and a 52-week high of $89.81. The company has a debt-to-equity ratio of 3.79, a current ratio of 2.14 and a quick ratio of 1.54.

Several institutional investors have recently modified their holdings of ALLE. Visionary Asset Management Inc. purchased a new position in Allegion during the 3rd quarter valued at about $211,000. Wolverine Trading LLC purchased a new stake in shares of Allegion during the third quarter valued at about $328,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Allegion by 30.9% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,427 shares of the scientific and technical instruments company’s stock valued at $297,000 after buying an additional 808 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Allegion during the third quarter valued at about $221,000. Finally, Beacon Investment Advisory Services Inc. acquired a new position in shares of Allegion during the third quarter valued at about $329,000. 89.47% of the stock is owned by institutional investors and hedge funds.

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Allegion 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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