Analysts expect that Allegion PLC (NYSE:ALLE) will post $699.07 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Allegion’s earnings, with the highest sales estimate coming in at $699.90 million and the lowest estimate coming in at $698.30 million. Allegion reported sales of $609.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.7%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, October 25th.
On average, analysts expect that Allegion will report full-year sales of $2.72 billion for the current financial year. For the next fiscal year, analysts expect that the company will post sales of $2.89 billion, with estimates ranging from $2.88 billion to $2.90 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Allegion.
Allegion (NYSE:ALLE) last announced its earnings results on Thursday, July 26th. The scientific and technical instruments company reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.05. Allegion had a net margin of 11.19% and a return on equity of 91.38%. The company had revenue of $704.70 million for the quarter, compared to analysts’ expectations of $697.96 million. During the same period last year, the firm earned $1.11 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis.
Several analysts recently issued reports on ALLE shares. Zacks Investment Research upgraded shares of Allegion from a “sell” rating to a “hold” rating in a research report on Monday, July 9th. Credit Suisse Group started coverage on shares of Allegion in a research report on Friday. They set an “outperform” rating and a $96.00 price target on the stock. ValuEngine lowered shares of Allegion from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Wells Fargo & Co reduced their price target on shares of Allegion from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 17th. Finally, Morgan Stanley started coverage on shares of Allegion in a research report on Monday, August 20th. They set an “equal weight” rating and a $88.00 price target on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $94.33.
In related news, insider Douglas P. Ranck sold 3,200 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $89.78, for a total transaction of $287,296.00. Following the sale, the insider now owns 10,348 shares in the company, valued at approximately $929,043.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.75% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dorsey Wright & Associates acquired a new stake in Allegion in the third quarter valued at approximately $1,581,000. Bank of Montreal Can boosted its position in Allegion by 36.1% in the third quarter. Bank of Montreal Can now owns 58,468 shares of the scientific and technical instruments company’s stock valued at $5,295,000 after buying an additional 15,521 shares in the last quarter. Douglass Winthrop Advisors LLC boosted its position in Allegion by 69.6% in the third quarter. Douglass Winthrop Advisors LLC now owns 28,905 shares of the scientific and technical instruments company’s stock valued at $2,601,000 after buying an additional 11,865 shares in the last quarter. Vigilant Capital Management LLC boosted its position in Allegion by 2.3% in the third quarter. Vigilant Capital Management LLC now owns 161,655 shares of the scientific and technical instruments company’s stock valued at $14,641,000 after buying an additional 3,595 shares in the last quarter. Finally, Lourd Capital LLC acquired a new stake in Allegion in the third quarter valued at approximately $257,000. Institutional investors and hedge funds own 94.55% of the company’s stock.
Shares of ALLE traded up $1.01 during mid-day trading on Friday, hitting $83.77. 696,017 shares of the company’s stock were exchanged, compared to its average volume of 736,920. Allegion has a 52 week low of $73.85 and a 52 week high of $92.87. The stock has a market capitalization of $8.60 billion, a PE ratio of 21.15, a P/E/G ratio of 1.54 and a beta of 1.07. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 2.80.
The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Monday, September 17th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.00%. Allegion’s dividend payout ratio is 21.21%.
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.
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