Allegion PLC (NYSE:ALLE) Expected to Announce Quarterly Sales of $737.20 Million

Equities analysts expect Allegion PLC (NYSE:ALLE) to report $737.20 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Allegion’s earnings, with the lowest sales estimate coming in at $729.20 million and the highest estimate coming in at $745.20 million. Allegion reported sales of $702.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 18th.

On average, analysts expect that Allegion will report full year sales of $2.87 billion for the current financial year, with estimates ranging from $2.86 billion to $2.88 billion. For the next year, analysts expect that the business will report sales of $2.98 billion, with estimates ranging from $2.96 billion to $3.00 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Allegion.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.33 by $0.14. The firm had revenue of $748.30 million during the quarter, compared to analysts’ expectations of $737.64 million. Allegion had a net margin of 16.00% and a return on equity of 69.28%. Allegion’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS.

ALLE has been the subject of several recent analyst reports. Imperial Capital increased their price objective on shares of Allegion from $105.00 to $116.00 and gave the company an “in-line” rating in a report on Monday, October 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Allegion from a “sell” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Monday, October 28th. Barclays reiterated a “buy” rating and issued a $120.00 price objective on shares of Allegion in a report on Friday, October 25th. Bank of America set a $125.00 price objective on shares of Allegion and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Wells Fargo & Co increased their price objective on shares of Allegion from $125.00 to $132.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $114.63.

Allegion stock opened at $124.09 on Wednesday. The firm has a 50 day simple moving average of $117.63 and a 200-day simple moving average of $106.30. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.90 and a quick ratio of 1.30. The stock has a market capitalization of $11.43 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.18 and a beta of 1.18. Allegion has a 12-month low of $74.83 and a 12-month high of $124.57.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Tuesday, December 17th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, December 16th. Allegion’s dividend payout ratio (DPR) is presently 24.00%.

In related news, CFO Patrick S. Shannon sold 20,421 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $115.43, for a total transaction of $2,357,196.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Timothy P. Eckersley sold 2,364 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $116.28, for a total transaction of $274,885.92. The disclosure for this sale can be found here. Insiders sold 65,288 shares of company stock valued at $7,609,276 over the last quarter. Insiders own 0.77% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in Allegion during the second quarter valued at approximately $33,000. HBK Sorce Advisory LLC purchased a new stake in shares of Allegion in the 2nd quarter valued at approximately $40,000. Golden State Wealth Management LLC lifted its position in shares of Allegion by 1,923.1% in the 2nd quarter. Golden State Wealth Management LLC now owns 526 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 500 shares in the last quarter. Coastal Investment Advisors Inc. lifted its position in shares of Allegion by 191.0% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 582 shares of the scientific and technical instruments company’s stock valued at $60,000 after acquiring an additional 382 shares in the last quarter. Finally, Usca Ria LLC purchased a new stake in shares of Allegion in the 3rd quarter valued at approximately $65,000. 93.22% of the stock is owned by institutional investors and hedge funds.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile 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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