Equities analysts expect Allegion (NYSE:ALLE) to announce $704.50 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Allegion’s earnings, with the highest sales estimate coming in at $714.40 million and the lowest estimate coming in at $696.90 million. Allegion posted sales of $627.00 million during 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 quarterly earnings report on Thursday, July 26th.
On average, analysts expect that Allegion will report full year sales of $2.69 billion for the current financial year, with estimates ranging from $2.68 billion to $2.70 billion. For the next fiscal year, analysts expect that the business will post sales of $2.82 billion per share, with estimates ranging from $2.81 billion to $2.84 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Allegion.
Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, April 26th. The scientific and technical instruments company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.04). The company had revenue of $613.10 million for the quarter, compared to analysts’ expectations of $605.47 million. Allegion had a net margin of 11.21% and a return on equity of 102.62%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 earnings per share.
A number of analysts have recently commented on ALLE shares. Barclays restated an “overweight” rating and issued a $103.00 price objective (up from $100.00) on shares of Allegion in a research report on Wednesday, February 21st. Wells Fargo & Co restated an “outperform” rating and issued a $105.00 price objective (up from $100.00) on shares of Allegion in a research report on Wednesday, February 21st. Imperial Capital restated an “outperform” rating and issued a $94.00 price objective (up from $85.00) on shares of Allegion in a research report on Wednesday, February 21st. Zacks Investment Research upgraded Allegion from a “hold” rating to a “strong-buy” rating and set a $99.00 price objective for the company in a research report on Thursday, February 22nd. Finally, Berenberg Bank cut Allegion from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $94.60.
In other news, VP Tracy L. Kemp sold 14,821 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $86.01, for a total value of $1,274,754.21. Following the transaction, the vice president now owns 18,283 shares of the company’s stock, valued at approximately $1,572,520.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris E. Muhlenkamp sold 3,944 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.33, for a total value of $340,485.52. Following the completion of the transaction, the insider now directly owns 17,527 shares in the company, valued at approximately $1,513,105.91. The disclosure for this sale can be found here. Insiders have sold 57,415 shares of company stock worth $4,924,641 in the last three months. 0.75% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Allegion by 5.0% in the 1st quarter. BlackRock Inc. now owns 6,420,934 shares of the scientific and technical instruments company’s stock valued at $547,641,000 after purchasing an additional 304,047 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Allegion by 47.5% during 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 in the last quarter. American Century Companies Inc. lifted its stake 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 worth $177,204,000 after acquiring an additional 334,751 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Allegion by 8.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,607,136 shares of the scientific and technical instruments company’s stock worth $127,864,000 after acquiring an additional 128,178 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake 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 worth $97,661,000 after acquiring an additional 394,207 shares in the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Allegion traded down $0.47, reaching $78.79, on Monday, Marketbeat.com reports. The company’s stock had a trading volume of 637,825 shares, compared to its average volume of 1,048,605. The stock has a market capitalization of $7.53 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.38 and a beta of 1.07. Allegion has a 52-week low of $73.85 and a 52-week high of $89.81. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, June 14th. Allegion’s dividend payout ratio (DPR) is currently 21.21%.
Allegion Company Profile
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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