$609.65 Million in Sales Expected for Allegion PLC (ALLE) This Quarter

Analysts expect Allegion PLC (NYSE:ALLE) to post sales of $609.65 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Allegion’s earnings, with estimates ranging from $609.00 million to $610.30 million. Allegion reported sales of $569.70 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, February 8th.

According to Zacks, analysts expect that Allegion will report full-year sales of $609.65 million for the current year, with estimates ranging from $2.39 billion to $2.40 billion. For the next year, analysts expect that the business will post sales of $2.54 billion per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover 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 (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.02. The company had revenue of $609.40 million during the quarter, compared to analysts’ expectations of $622.18 million. Allegion had a net margin of 14.37% and a return on equity of 154.50%. Allegion’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Allegion from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Wolfe Research raised shares of Allegion from a “market perform” rating to an “outperform” rating in a research report on Monday, October 30th. BidaskClub cut shares of Allegion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 18th. Robert W. Baird reissued a “hold” rating on shares of Allegion in a research report on Tuesday, September 26th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $100.00 target price (up previously from $90.00) on shares of Allegion in a research report on Wednesday, October 18th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $89.75.

Shares of Allegion (NYSE ALLE) opened at $86.23 on Monday. The stock has a market cap of $8,195.53, a PE ratio of 24.50, a PEG ratio of 1.45 and a beta of 1.08. Allegion has a 52-week low of $64.62 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.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, December 15th. Allegion’s dividend payout ratio (DPR) is presently 18.18%.

Hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. raised its stake in Allegion by 94.2% in the third quarter. Whittier Trust Co. now owns 1,237 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 600 shares in the last quarter. YorkBridge Wealth Partners LLC acquired a new position in Allegion in the third quarter valued at about $107,000. QS Investors LLC raised its stake in Allegion by 1.2% in 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 purchasing an additional 16 shares in the last quarter. Zions Bancorporation raised its stake in Allegion by 141.9% in the third quarter. Zions Bancorporation now owns 1,587 shares of the scientific and technical instruments company’s stock valued at $137,000 after purchasing an additional 931 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in Allegion in the third quarter valued at about $211,000. 89.38% of the stock is owned by institutional investors and hedge funds.

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About Allegion

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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