Analysts expect that Allegion (NYSE:ALLE) will report $704.50 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Allegion’s earnings. The lowest sales estimate is $696.90 million and the highest is $714.40 million. Allegion posted sales of $627.00 million in the same quarter last year, which suggests a positive year over year growth rate of 12.4%. The business is expected to announce its next earnings results on Thursday, July 26th.
On average, analysts expect that Allegion will report full year sales of $2.69 billion for the current year, with estimates ranging from $2.68 billion to $2.70 billion. For the next financial year, analysts forecast that the business will report sales of $2.82 billion per share, with estimates ranging from $2.81 billion to $2.84 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Allegion.
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Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, April 26th. The scientific and technical instruments company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.04). Allegion had a return on equity of 102.62% and a net margin of 11.21%. The business had revenue of $613.10 million during the quarter, compared to analysts’ expectations of $605.47 million. During the same period in the previous year, the business earned $0.71 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis.
ALLE has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Allegion from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Tuesday, May 1st. Barclays reissued an “overweight” rating and issued a $103.00 price objective (up from $100.00) on shares of Allegion in a research note on Wednesday, February 21st. ValuEngine cut shares of Allegion from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Berenberg Bank cut shares of Allegion from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $105.00 price objective (up from $100.00) on shares of Allegion in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Allegion has a consensus rating of “Hold” and a consensus target price of $94.60.
In other news, VP Tracy L. Kemp sold 14,821 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $86.01, for a total value of $1,274,754.21. Following the completion of the sale, the vice president now owns 18,283 shares in the company, valued at approximately $1,572,520.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Patrick S. Shannon sold 20,200 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $85.83, for a total transaction of $1,733,766.00. Following the completion of the sale, the chief financial officer now owns 68,790 shares of the company’s stock, valued at approximately $5,904,245.70. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in ALLE. Alliancebernstein L.P. lifted its holdings in shares of Allegion by 47.5% in the 4th quarter. Alliancebernstein L.P. now owns 4,026,199 shares of the scientific and technical instruments company’s stock worth $320,324,000 after acquiring an additional 1,297,066 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in Allegion by 870.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 650,209 shares of the scientific and technical instruments company’s stock valued at $55,456,000 after buying an additional 583,217 shares in the last quarter. Deutsche Bank AG lifted its holdings in Allegion by 47.3% during the 4th quarter. Deutsche Bank AG now owns 1,227,582 shares of the scientific and technical instruments company’s stock valued at $97,661,000 after buying an additional 394,207 shares in the last quarter. Findlay Park Partners LLP lifted its holdings in Allegion by 48.4% during the 1st quarter. Findlay Park Partners LLP now owns 1,135,171 shares of the scientific and technical instruments company’s stock valued at $96,819,000 after buying an additional 370,000 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Allegion by 17.7% during the 4th quarter. American Century Companies Inc. now owns 2,227,299 shares of the scientific and technical instruments company’s stock valued at $177,204,000 after buying an additional 334,751 shares in the last quarter. Hedge funds and other institutional investors own 88.01% of the company’s stock.
Shares of Allegion opened at $79.23 on Thursday, MarketBeat.com reports. Allegion has a 52 week low of $73.85 and a 52 week high of $89.81. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.36 and a beta of 1.05. The company has a debt-to-equity ratio of 3.20, a current ratio of 1.78 and a quick ratio of 1.17.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a $0.21 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.06%. Allegion’s dividend payout ratio (DPR) is presently 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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