Allegion PLC (ALLE) Expected to Announce Quarterly Sales of $618.77 Million
Equities research analysts forecast that Allegion PLC (NYSE:ALLE) will report $618.77 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Allegion PLC’s earnings, with the highest sales estimate coming in at $620.90 million and the lowest estimate coming in at $616.70 million. Allegion PLC reported sales of $581.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.5%. The firm is scheduled to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Allegion PLC will report full year sales of $618.77 million for the current fiscal year, with estimates ranging from $2.39 billion to $2.42 billion. For the next financial year, analysts expect that the business will post sales of $2.53 billion per share, with estimates ranging from $2.49 billion to $2.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Allegion PLC.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.11. The company had revenue of $627 million during the quarter, compared to analyst estimates of $613.37 million. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share.
A number of brokerages have weighed in on ALLE. BidaskClub lowered Allegion PLC from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Wolfe Research began coverage on Allegion PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research raised Allegion PLC from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Friday, June 30th. Finally, Imperial Capital boosted their target price on Allegion PLC from $79.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Allegion PLC currently has an average rating of “Buy” and an average price target of $86.00.
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Allegion PLC (NYSE ALLE) opened at 80.59 on Thursday. The company’s 50-day moving average is $81.02 and its 200 day moving average is $76.16. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 31.18 and a beta of 1.10. Allegion PLC has a 52-week low of $61.47 and a 52-week high of $82.90.
In other Allegion PLC news, insider Todd V. Graves sold 1,858 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $79.19, for a total transaction of $147,135.02. Following the completion of the sale, the insider now directly owns 12,084 shares in the company, valued at approximately $956,931.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy P. Eckersley sold 12,782 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Allegion PLC by 3.9% in the first quarter. Vanguard Group Inc. now owns 9,120,260 shares of the scientific and technical instruments company’s stock worth $690,404,000 after buying an additional 338,508 shares in the last quarter. BlackRock Inc. increased its stake in Allegion PLC by 5,286.4% in the first quarter. BlackRock Inc. now owns 5,209,003 shares of the scientific and technical instruments company’s stock worth $394,319,000 after buying an additional 5,112,297 shares in the last quarter. State Street Corp increased its stake in Allegion PLC by 11.9% in the first quarter. State Street Corp now owns 5,061,071 shares of the scientific and technical instruments company’s stock worth $383,121,000 after buying an additional 538,262 shares in the last quarter. American Century Companies Inc. increased its stake in Allegion PLC by 0.8% in the second quarter. American Century Companies Inc. now owns 1,901,388 shares of the scientific and technical instruments company’s stock worth $154,241,000 after buying an additional 14,656 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Allegion PLC by 42.9% in the second quarter. Bessemer Group Inc. now owns 1,335,017 shares of the scientific and technical instruments company’s stock worth $108,297,000 after buying an additional 400,516 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.
About Allegion PLC
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric 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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