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.
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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