Allegion PLC (NYSE:ALLE) Expected to Announce Quarterly Sales of $740.00 Million

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Wall Street analysts forecast that Allegion PLC (NYSE:ALLE) will report $740.00 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Allegion’s earnings, with the lowest sales estimate coming in at $733.20 million and the highest estimate coming in at $744.40 million. Allegion reported sales of $711.50 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, October 24th.

On average, analysts expect that Allegion will report full-year sales of $2.87 billion for the current year, with estimates ranging from $2.86 billion to $2.89 billion. For the next year, analysts expect that the firm will report sales of $2.99 billion, with estimates ranging from $2.97 billion to $3.03 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Allegion.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, July 25th. The scientific and technical instruments company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.05). The firm had revenue of $731.20 million during the quarter, compared to the consensus estimate of $750.76 million. Allegion had a return on equity of 68.47% and a net margin of 15.65%. Allegion’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 EPS.

A number of equities research analysts have recently commented on ALLE shares. Credit Suisse Group cut Allegion from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $108.00 to $112.00 in a research note on Monday, July 8th. They noted that the move was a valuation call. Wells Fargo & Co increased their target price on Allegion from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Barclays increased their target price on Allegion from $105.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Zacks Investment Research cut Allegion from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a research note on Thursday, October 3rd. Finally, Bank of America increased their target price on Allegion from $114.00 to $116.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $107.38.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Allegion by 10.8% during the second quarter. BlackRock Inc. now owns 8,406,547 shares of the scientific and technical instruments company’s stock valued at $929,344,000 after buying an additional 821,079 shares during the last quarter. FMR LLC boosted its position in shares of Allegion by 13.5% during the first quarter. FMR LLC now owns 1,815,943 shares of the scientific and technical instruments company’s stock valued at $164,724,000 after buying an additional 215,361 shares during the last quarter. AKO Capital LLP boosted its position in shares of Allegion by 0.7% during the second quarter. AKO Capital LLP now owns 1,767,572 shares of the scientific and technical instruments company’s stock valued at $195,405,000 after buying an additional 12,909 shares during the last quarter. Invesco Ltd. boosted its position in shares of Allegion by 120.7% during the second quarter. Invesco Ltd. now owns 1,694,728 shares of the scientific and technical instruments company’s stock valued at $187,352,000 after buying an additional 926,897 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Allegion by 32.7% during the second quarter. UBS Asset Management Americas Inc. now owns 1,620,226 shares of the scientific and technical instruments company’s stock valued at $179,116,000 after buying an additional 398,854 shares during the last quarter. 92.40% of the stock is currently owned by hedge funds and other institutional investors.

ALLE traded up $0.82 during trading on Friday, reaching $101.52. The stock had a trading volume of 54,597 shares, compared to its average volume of 582,053. The stock’s 50 day moving average is $99.46 and its two-hundred day moving average is $100.54. The company has a current ratio of 1.71, a quick ratio of 1.12 and a debt-to-equity ratio of 2.10. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 1.91 and a beta of 1.18. Allegion has a one year low of $74.83 and a one year high of $111.99.

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.27 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.06%. Allegion’s dividend payout ratio is currently 24.00%.

Allegion Company Profile

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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